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Gieves & Hawkes plans more overseas stores

Gieves & Hawkes plans to refurbish its Sloane Square store in London and push into Far Eastern markets after the business recorded a loss last year.

The men's tailoring brand posted pre-tax losses of £140,000 in the 52 weeks to December 30 2006, despite an 8% increase in turnover to £17.4 million.

Last year saw the opening of standalone stores in Leeds and Liverpool.

Chief executive Mark Henderson explained: "The past two years have seen a huge investment roll-out for Gieves & Hawkes in Asia. Plus we opened nine new doors in the UK in 2006. We are expecting improved performances for 2007."

Gieves & Hawkes is seeking licensees in India and South Korea. It is also looking for a successor to Japanese licensee Daidoh, which has ended its agreement with the Savile Row firm. New Gieves & Hawkes shops in China will soon take its number of doors there to 60.

In the UK, the company plans to push its department store business, which sells its Gieves ready-to-wear range. It is also preparing to launch a collection of leather goods that will include wallets and bags.

"In 2008, we will refurbish our store in Sloane Square, to consolidate our role within the Knightsbridge and Sloane Street retail area. We will also launch an extended tailoring section in our Savile Row store," said Henderson.

Gieves & Hawkes has 21 stores and concessions in the UK.

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