Formalwear retailer Suit Direct is to begin an ambitious expansion plan after opening a new flagship store in Birmingham this week.

The company, which is part of the Baird Group, is looking to open 10 city-centre stores by the end of 2020 and up to 25 stores within the next 18 months, The Business Desk reports.

“With a focus on greater innovation, especially through bringing life to our digital proposition, offering quality brands and a premium, customer-focused, shopping experience we’re looking to bring back the joy of buying and wearing suits whether it be casual, in the office and more in more formal environments,” said Suit Direct retail director Amanda Argent.

“The Birmingham store will be the first store to open in a series of new standalone stores across the UK and marks a new era in the brand’s direction as we set our sights on further expansion on the UK high street.”

Suit Direct bucks high street trend, plans expansion

The formalwear category has been significantly impacted by Covid-19, with the cancellation of large events such as weddings and the Royal Ascot dealing major blows to sales.

In August, Moss Bros called in advisory firm KPMG to work on a potential CVA which could lead to store closures and rent cuts, while in the same month Brooks Brothers was acquired by Authentics Brands Group after going bankrupt in July. Also in July, it was revealed British menswear retailer TM Lewin would permanently close all 66 of its stores after falling into administration.

So this latest move by Suit Direct is a significant sign of confidence in an otherwise uncertain sector.

In August, Baird Group, the license holder of Suit Direct and Ben Sherman, received approval from its creditors to go ahead with a company voluntary arrangement (CVA). Around 94 percent of all voting creditors approved the CVA, which was put forward on 23 July 2020.

Under the proposal, 18 stores, one warehouse and one office will be closed, and 264 employees will lose their jobs across retail and distribution, mainly those working at Debenhams concessions. A further 29 stores will see a reduction and phased rebuild of base rent.

Photo credit: Suit Direct, Facebook