TM Lewin eyes rapid retail expansion as it returns to high streets

Following its return to physical retail, the managing director of TM Lewin, Dan Ferris, has now said the menswear brand hopes to expand its real estate presence “very quickly”.

On the back of opening a store on Bow Lane in London, Ferris said the company is eyeing further expansion across the capital city, as well as in Manchester and Edinburgh, the Times reported.

“A big part of our three-year plan is to expand the real estate very quickly,” Ferris told the media outlet. “We’re looking for another couple this year, and thereafter it’ll just be about opening as many additional outlets as we can.”

TM Lewin, which had at one time operated 150 stores, exited the brick-and-mortar market during the pandemic, when the company collapsed into administration and then did so again in 2022.

It was rescued from its second administration early that year by a subsidiary owned by its main lender Petra Group, which had reached an agreement with administrators, Interpath Advisory, to take control of the heritage brand.

Despite efforts, financial problems haven’t subsided substantially for TM Lewin. A Companies House filing published in February revealed the brand’s debts had grown by almost 10 million pounds since its administration, and it was reported to own unsecured creditors over 33.8 million pounds.

To try and turn around its financial performance, TM Lewin has doubled down on its formalwear range, which now accounts for around 70 percent of its sales, The Times reported.

“What we’re seeing is our top-end suits are performing really well for us. Where people are coming in, they’re willing to spend the money,” Ferris noted.