The luxury goods maker Chanel has told the BBC it's elected to set up its global office in the UK.
For the first time in its 110-year history, the brand is gathering the majority of its global business functions under one roof.
Chanel, renowned for its tweed suits, handbags and perfume, had global sales of over £7bn last year, and employs more than 20,000 people.
It has over 30 million social media followers on Instagram.
Chanel told BBC Radio 4's Today programme that it "wanted to simplify the structure of the business and London is the most appropriate place to do that for an international company. London is the most central location for our markets, uses the English language and has strong corporate governance standards with its regulatory and legal requirements".
The decision - which is understood to involve dozens of jobs - means that Chanel has picked London as the base for its global team over other locations such as New York, or even its creative hub of Paris.