The bargain store Wilko will locate its first Tunbridge Wells shop in Royal Victoria Place, the Times understands.
Poundland, Aldi and Lidl are described as competitors of the high street retailer that sells homeware and household goods.
The new shop is set to occupy the former retail unit of HMV on the ground floor of the shopping centre, as well as its neighbouring unit, which had previously been occupied by the gadget store Menkind.
The units are set to be merged into one ahead of its opening around September.
It is also understood that the store will employ 30 members of staff, who will be undergoing a 12-week training programme prior to the shop opening its doors.
The launch will happen almost one year after Poundland opened its first Tunbridge Wells store on Grosvenor Road.
There is also speculation that Aldi will establish itself in the town on the site of the 80-space car park behind the Esso petrol station on Eridge Road.
Founded in 1930 by James Wilkinson, Wilko has remained largely in the hands of the same family and currently has over 380 stores nationwide.
The Nottinghamshire-based chain employs 18,000 people nationwide and has revenues of around £1.5billion.