Suit Direct: “Nothing is off the table” as it targets new stores
“Nothing is off the table” for Suit Direct, as it looks to open up to 50 new locations over the coming years.
The men’s formalwear retailer – which currently operates 30 stores – has renewed its long-standing partnership with Savills as it looks to identify suitable locations and grow its full-price offer.
The brand has seen considerable growth over the last few years, having previously traded primarily from concessions within Debenhams department stores and outlet centres. Following Debenhams’ collapse in 2019, Suit Direct needed to replace a sizeable chunk of its revenue.
“That’s when we embarked on the journey of going on to the high street with a full-price proposition”, Amanda Argent, retail director at Suit Direct, tells Completely Retail News.
“We then engaged with Savills, who did a piece of research to support us in finding the locations we should be targeting.
“We did go through a rapid amount of openings post-Covid, taking advantage of empty units where other retailers had collapsed. That has changed significantly now. Some of those stores worked really well, some were on short-term leases so we have lost them now, and some we still have”, she adds.
Currently, the brand operates 10 outlet stores and 20 full-price stores in high streets and shopping centres.
Suit Direct isn’t the only formal menswear brand looking to grow its footprint. Charles Tyrwhitt has continued to expand whilst TM Lewin has recently made its return to the high street. This resurgence has been driven by a return to the office for many workers, leading to greater demand for men’s formalwear.
However, Suit Direct is well positioned to take advantage of this market, says Argent:
“Post-Covid there was a period of time where the way that men were wearing ‘the suit’ changed quite significantly. People were wondering if anyone would ever wear a suit to the office again.
“Where we have focused and capitalised is around occasions where people are wearing suits. Whether this is a wedding, a funeral, prom, or the races. Post-Covid we had a booming time, particularly for weddings, and we’ve continued to focus on occasions.”
Amanda Argent, retail director at Suit Direct, and Michael Lockhart, director at Savills
This is echoed by Michael Lockhart, director of national and in town retail at Savills, which supports Suit Direct with its expansion:
“I think Suit Direct’s product range has evolved over the last couple of years. It’s a very different product we’re selling today compared to pre-Covid and I think that’s a key strength of the business: we are agile to consumer spending habits, fashions, and tastes.
“Understandably to some extent, a lot of landlords believe we are a carbon copy of brands like Moss, or very similar. We are different, as our unique selling point is very much focused on providing men with a suit or outfit for occasions, in tandem with offering a really good lifestyle range as well”, he adds.
Another point for landlords to consider, Lockhart says, is how the brand has evolved its shop fit outs over the years:
“The most recent openings we’ve completed, the shop fit out is so much better than it was four or five years ago. We weren’t honestly investing a huge amount into stores because they were on more flexible leases while we trialled certain locations, to see what worked and what didn’t.
“What we found from that exercise was that it was the top-tier, high footfall locations – as opposed to the more provincial markets – that we should be focusing on. However availability at top-tier schemes is pretty limited, so you have to have a very good product offering and a really good shop fit, otherwise you will be overlooked in favour of other retailers including your competitors.
“So we don’t take a cookie cutter approach to each store, every store is different, but what is consistent is the premium finish.”
Some examples of fit-outs at recently-opened Suit Direct stores (Exeter and Dalton Park)
In addition, Argent and Lockhart say the quality of the clothes and the customer service proposition are also key factors setting Suit Direct apart from its competitors. The majority of its clothing comes from a factory in Egypt which also produces for the likes of Armani, Brooks Brothers, and Massimo Dutti, while Argent says that the company’s in-store staff members are trained on all aspects of tailoring and men’s suiting, and will be able to measure up customers and provide recommendations:
“That’s definitely a unique selling point for us, you can see that in our conversion numbers that we get”, she says, adding that “confidence and credibility are really important when you’re buying a suit for really key moments in your life.”
Now, the retailer is looking to take the next steps in its expansion programme, with plans to spread its footprint across the UK.
“We haven’t stretched ourselves too much, we’ve been cautious with our acquisitions programme”, says Lockhart.
“We’ve seen the mistakes of other retailers who in the past have expanded too quickly and ultimately risked the future of the business.
“But nothing is off the table, if there is a good story from a business case point-of-view and we feel that opening a Suit Direct in that location will ultimately generate a profitable store, then we’ll look at it. We’ll consider any opportunity on its merit”, he adds.
Suit Direct is targeting retail units ranging between 1,200 sq ft and 1,800 sq ft in size, with a minimum of 500 sq ft of back of house space. Target locations include Manchester, Liverpool, York, Leeds, Reading, Edinburgh, Cambridge, Nottingham, and London.
“It’s an exciting time for Suit Direct”, Lockhart concludes, “as we open more stores and people become more aware of the brand, we are increasingly getting more landlords coming to us.
“It was a bit of a struggle in the early stages, we were probably seen as below the likes of Hawes & Curtis or Moss in the brand hierarchy, but now we are having landlords come to use which is a testament to Amanda and her team and the hard work they’ve put into changing the perception of Suit Direct in the market.
“It’s a really positive story and a well capitalised business. We’re out there wanting to take bricks-and-mortar stores, there’s a strong online platform, and we’re investing in store fit-outs.
“The message we want to convey is that we want to engage with landlords to learn and see new opportunities.”