UK retailer Austin Reed Group has revealed plans to open a further 60 stores in the next two years, with the company doubling its original three-year opening plan.

The formal wear fashion chain opened 40 stores this year, including freestanding units and concessions in department stores.

Chief executive Nick Hollingworth said: "Following the success of 40 new openings this year, we are planning to open 100 new stores in our three year program, more than doubling the original estimates."

Recent store openings for the company's Country Casuals brand include stores in Reigate, Goldaming and its first freestanding store in Ireland. Openings for the Austin Reed brand include Birmingham Airport and six women's wear concessions in House of Fraser stores, he added.

The company, which posted retail sales of GBP106m (US$220.4m) last year, currently operates 92 Austin Reed stores, concessions and outlets and 217 Country Casuals stores and concessions in the UK.