British clothing retailer Pepe Jeans is to invest $4.0 million on doubling its presence in the Spanish market.

The company moved into Spain in 1989, and currently has 34 shops in the country. Its new investment will see it opening 36 shops in Spain by 2003, according to the company's director for international development, Vicente Castellano.

Since March 2000 Pepe's Madrid office has handled its South Europe, Middle East and Latin America operations.

Pepe Jeans expects to post over $42.7m turnover for 2001, up 13 per cent year-on-year.