The British department store John Lewis has announced plans to anchor a €1.2bn shopping centre on Dublin's O'Connell St which is due to open in 2013.
It will be the store's first outlet outside the UK and could lead to the creation of over 800 jobs, the company said.
The group, whose food chain Waitrose opened its first shop outside the UK earlier this week, said it had agreed with developer Chartered Land to invest €50 million in a five-floor, 250,000-square-foot store for the Dublin Centre development.
John Lewis, which is owned by its 69,000 staff, plans to double the size of its business over the next 10 years.
It has already announced plans to open a department store at Sprucefield, near Lisburn in Northern Ireland.
"This development will offer us a great opportunity to move into the Republic and will complement our planned Sprucefield shop as part of our pan-Ireland strategy," Gareth Thomas, John Lewis's director of retail design and development, said.
"Our intention is to double our usual spend on marketing for a new branch and to keep that momentum rolling," he said in the company's online gazette.
Waitrose said earlier this week it had opened the first of two new stores in Dubai in a licensing partnership with Fine Fare Food Market.
Last week, John Lewis reported a 0.2 per cent rise in third-quarter sales, including a 1.2 per cent decline at its department stores and a 1.3 per cent rise at Waitrose.