Just-style.com, the textile and apparel news site, reports that the new Vans store will open in the autumn.
President and CEO, Gary Schoenfeld, said: "Carnaby Street has great heritage and fashion influence and represents an ideal platform for us to showcase our products and heighten our exposure internationally.
"In addition, as our wholesale business has continued to grow in Europe, our retail outlet store performance abroad has similarly been strong.
"We are very excited about the opportunity and believe that this can provide the impetus for further wholesale and retail expansion in Europe."