Formalwear specialist CharlesTyrwhitt has unveiled a suite of plans to overhaul its website, move into the made-to-measure market and open up to a further 50 stores over the next eight years.

The retailer, which started as a mail order operation but now has 12 stores, plans to open its next store in Bluewater in July and this will be followed by an opening in Jermyn Street in Central London early next year.

Other potential locations for expanding the business include Glasgow, Edinburgh, Bristol, Cardiff and Bath.

Charles Tyrwhitt is also set to do battle with traditional tailors with the introduction of a made-to-measure service into its stores. The retailer is looking at selling made-to-measure suits costing up to £450, and could roll out the concept to include shirts.

Charles Tyrwhitt founder Nick Wheeler said: “We are looking into this area. Made to measure is very fashionable at the moment.”

The made-to-measure service will be introduced first in London stores next year, Wheeler said.

Made-to-measure is becoming increasingly popular - menswear group Moss Bros is to launch a chain of stores offering bespoke suits costing up to £350 this year. The first opens this week.

Charles Tyrwhitt’s website will also undergo a major revamp in October this year, with the aim of making it “the best shirt website in the world”.

The redesign will make it easier for customers to find products. Online sales currently account for 60% of total sales.

Charles Tyrwhitt’s expansion plans follow the posting of a 30% increase in year-on-year sales to £65m for the year to April.