Paul Stuart, known for its special take on Anglo-American fashion, has been sold to its Japanese licensee.
The venerable New York City retailer, which has been a fixture on Madison Avenue for nearly 75 years, was acquired by Mitsui & Co. Ltd., for an undisclosed sum on Dec. 28. The news was kept under wraps until Tuesday when the Tokyo-based company revealed that Paul Stuart’s founding families agreed to sell their shares to Mitsui, which has become the retailer’s sole owner.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)