Men’s clothing retailer Charles Tyrwhitt, which was originally built on offering formal ‘Jermyn Street quality’ shirts at lower prices, has posted much improved results for the year to July 2023. Sales rose to £269 million, 45 per cent up on the previous year. Seventy per cent of its sales are made online, but it also has stores in the UK and a fledgling chain in the USA.
The business had seen its traditional market evaporate during the Covid lockdown periods as office workers were working from home, had business travel curtailed, and chose to adopt less formal clothing. The trend has continued, and Charles Tyrwhitt has adapted its offering to meet demand for good quality, less formal menswear – this includes jeans and chinos, which its customers are now teaming with its blazers and jackets, and with smart shirts, rather than wear tailored suits.
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