New Look will unveil a 'menswear flagship store' in London this summer as it aims to increase its slice of the £8 billon menswear market.
The 16,000 sq ft store near Moorgate will open in July with a 5,000 sq ft menswear floor - the biggest in New Look's 550-store portfolio.
The retailer is also hunting for a new menswear director following the departure of Andy King in February. Industry sources have suggested that former Debenhams head of buying Stefan Pesticcio may be in the running, although nothing had been confirmed as Drapers went to press. Pesticcio was unavailable for comment.
The new store's menswear range will include casual-wear, formal-wear, accessories and footwear, alongside a suiting concession run by BMB Clothing under the New Look brand.
The retailer has signed the menswear specialist to launch suiting concessions in 15 stores for summer. The offer, comprising suits, ties, shirts and trousers, is already in nine stores, including Bolton, Coventry, Glasgow and Nottingham.
New Look managing director for merchandising and buying Paul Marchant said the retailer had not ruled out more concession launches. "With menswear, we need to be bigger and more complete by offering formal-wear, footwear and accessories," he said. "BMB is a first-class suit operator."
This is the first concession that New Look has launched since parting company with kidswear operator Adams last year.
According to research group Mintel, sales in the menswear market are set to grow to £8.1bn annually by the end of this year, up from £7.9bn last year. By 2012 it estimates sales could reach £8.6bn.