Boutique womenswear retailer Ghost will expand outside its London heartland after repositioning its upmarket brand.

Ghost, which was acquired by investor Arev and retail entrepreneur Kevin Stanford in December 2005, plans to open five stores a year.

It has signed three units, at Liverpool One, Highcross Leicester and Bristol’s Quakers Friars centre, with two in the pipeline. It also has a unit at Gunwharf Quays, Portsmouth. Last month, it opened concessions at new House of Fraser stores in Belfast and High Wycombe and Ely’s department store, Wimbledon.

The brand has been repositioned away from its roots as a catwalk brand and prices were slashed by a third to appeal to a broader customer base.

Ghost has 13 boutique shops, two outlets and 27 concessions in stores including Selfridges, Harvey Nichols, Fenwicks, House of Fraser and Brown Thomas.

Last year, Ghost closed its wholesale operation and unveiled plans to step up its retail roll-out.

Arev owns all or part of luxury goods maker Aspinal of London; maternity wear retailer Blooming Marvellous; branded fashion retailers Cruise and Limeys; upmarket retailers Duchamp and Hardy Amies; and Mountain Warehouse, Jones Bootmaker and Unisport.

It was founded by Jón Scheving Thorsteinsson, the former right-hand man of Baugur chief Jón sgeir Jóhannesson.