Classic men's apparel retailer Brooks Brothers has announced plans to open its first European store in the fashion capital of Milan.

The New York-based company expects the flagship store, which could be followed by similar outlets in other EU countries, to open in September and generate sales of up to 20 million euros a year.

The retailer currently operates more than 240 stores around the world, one third of which are in Asia and the rest in the US.

Claudio Del Vecchio, CEO of its parent Retail Brand Alliance, said the new store will be aimed at executives in their thirties and forties rather than their fifties and added the era of managers who "dress-down" at work was coming to an end.