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The Irish fashion giant Viva will be closing its fashion store in Dublin this week, the company said in a statement on Monday.

The Viva shop will close on Monday, December 8 at 11.30am.

The store was opened in 2016 and was the first Viva outlet to offer a range of new fashion, from a collection of sportswear to denim jeans, according to the statement.

Viva will now focus on its flagship shop, Viva Fashion, and its online store, Vivid, which will remain open.

Viva had previously said it would shut down its Dublin outlet, Vivanci, in March.

The move comes as Viva and other major fashion houses around the world are trying to find new ways to diversify their brands after a series of high-profile sales, particularly in the United States, in which sales of designer goods rose sharply.

In the US, fashion giant Dior said in January it would close down the iconic Parisian house of Louis Vuitton and its American subsidiary, H&M.

In February, H+M said it was pulling all of its American operations, including its fashion and luxury retail arm.

In 2018, Vivo will be the latest fashion brand to close a fashion store.

In May, Louis Vuitch closed its luxury department store, LVMH, in Dublin.

In September, HV and Victoria’s Secret closed their luxury department stores, VIVA, and Viva.

Vivas statement said it is the first fashion house to close in Ireland since the Irish fashion industry experienced a “disastrous downturn in the early 1990s, which led to the closure of a number of large fashion stores”.

Viva founder Peter Molyneux said the move was a “significant and necessary” change of strategy for the fashion house.

“We want to invest in the retail business and bring more customers into our store and our online store and we are investing in new brands that we believe will appeal to the fashion community,” he said.

“We will also continue to support and promote Viva through the Viva’s online store.”

The company has previously said that Viva was not going to close down its Paris fashion department store.