Premier Investments chairman Solomon Lew said the company is preparing to launch its key subsidiary Peter Alexander into the United Kingdom (UK).
Speaking with Ragtrader, Lew said the team will extend Peter Alexander's reach globally, including launching with a global cross-border ecommerce platform provider in November 2023.
"We’ve had a team visiting the UK recently looking at opportunities in the market ahead of plans to open our first Peter Alexander stores there during 2024 to go with our increasing online expansion into 35 countries via eshopworld," Lew said.
It comes as the sleepwear brand hit a record sales result of $478.9 million for FY23, up 11.8% on FY22 and up 93.3% on FY19.
During FY23, Peter Alexander opened six new stores across Australia, with a further six stores planned to open in the first half of FY24, alongside four relocations/expansions into larger formats.
Premier has identified a further 20-30 opportunities for both new and/or larger format stores in Australia/New Zealand to open in the near term.
The retail group's other subsidiary Smiggle is also preparing for growth in the Middle East. Premier also operates five other apparel brands - Just Jeans, Jay Jays, Portmans, Dotti and Jacqui E.
The growth across its brands will be led via Premier’s strategic review, announced in August 2023, which will review both the optimal operating structure and enhance identified key growth drivers such as product and sourcing, customer experience and engagement, property and formats, and operational efficiency.
In August, Premier noted the strategic review will also consider a demerger, with various sources pitting Smiggle and Peter Alexander as the likely candidates.