Chinese model Xi Mengyao presents a creation at Victoria's Secret Fashion Show in New York on Nov 11, 2015. [Photo/Weibo]

Heads-up, Hermes.

French archrival Louis Vuitton is leaving Shanghai's bustling Huaihai Road and taking its flashy neon and monogrammed accessory displays away from its position directly opposite the fifth global Hermes Maison store.

But the new neighbor is likely to be just as splashy.

Premium lingerie brand Victoria's Secret is opening its first store in China that will actually offer its iconic bras and panties, an employee of the United States-based company's China office confirmed to China Daily.

The lingerie store will open in a 1,475-square-meter space at Lippo Plaza that formerly housed one of Louis Vuitton's four retail spaces in Shanghai.

The store is expected to open by the end of this year, though the exact date isn't known as it mainly depends on when the lingerie collections clear customs, according to the employee, who spoke on the condition of anonymity.

Since the beginning of 2015, L Brands, Victoria Secret's parent company, has opened and operated 20 stores in Chinese mainland cities such Shanghai, Chengdu and Guangzhou. But they are all marketed as "Victoria's Secret concept stores" selling only accessories and beauty products such as perfumes, shampoos and canvas bags.

L Brands will continue to expand the concept stores in more Chinese cities, while remaining cautious about selling its core products, the employee said.