TM Lewin looks overseas as UK slows

The company, which recently opened its 100th store in the UK, selling shirts, ties and accessories such as cufflinks, said UK sales increased 7 per cent in the six months to August 27, compared to 21 per cent in the previous year.

But while UK trading was hit by the squeeze on the high street it announced plans to grow its international business, which last year accounted for just 13 per cent of its sales, to the same size as its current UK business by 2016 as it taps into demand for UK tailoring.

Its expansion plans would see overseas sales increase from £13m to £88m in just five years.

The company, established in 1898, said overseas sales increased 26 per cent in the first half of its financial year, compared to 7 per cent in the UK, as it benefited from strong demand from its seven stores in Malaysia and Singapore and online orders from the US and Australia. It plans to open a new site in Sydney to drive expansion into Asia and Australia.

TM Lewin has stores in Leeds and York.