Charles Tyrwhitt expects its business to grow by 20% over the next year as customer demands for casual work attire grows. Prior to the pandemic, the retailer focused on the sales of ties and blazers to office workers, but now it has tapped “into the expansion of the modern man’s working wardrobe to become the go-to brand for dressing men for the work ‘day ahead’ from ‘suited and booted’ to ‘dress down Fridays.”

In 2020, the retailer’s turnover was around £220 million, which fell to £100 million during the height of lockdowns. In the year to July 2023, the retailer’s sales jumped £269 million with underlying profits up £44 million. Charles Tyrwhitt has opened seven stores over the last 18 months and plans to open a 4,200 sq ft store on Regent Street this week.

“The menswear retailer has benefited from a trend for more conscious shopping, with 50% of men buying fewer but better quality clothes in the last 12 months, rising to 69% of Younger Millennials. Mintel’s upcoming Menswear – UK – 2024report explores the rise of the Quiet Luxury trend and the opportunities it presents for the menswear market, as men are significantly more likely than women to strongly agree that it is worth paying more for products of a higher quality.”