Paul Stuart is opening a second store in the Windy City.
The upscale New York-based specialty store will open a 3,600-square-foot unit at 208 South LaSalle Street this spring. The store, which will be located in the historic City National Bank Building, is currently under construction and the renovation is expected to be completed by the end of March. It will be patterned after The Townhouse on East Oak Street, the site of the company’s other store in the city. It will feature eight display windows on LaSalle and Adams Streets. Paul Stuart has had a presence in Chicago since 1995, and moved from a larger location on Michigan Avenue into its more-intimate current site in 2008.
“We’ve always wanted to get into the Loop, which is the financial mecca of Chicago,” said Michael Ostrove, chief executive officer of Paul Stuart. “We even thought about it when we were on Michigan Avenue. We were close to getting a site before the recession, but we held off. Now things are better, so we’re doing it.”
Ostrove said the store will be men’s only and will be “targeted to the tailored clothing and dress furnishings customer.” A smattering of the company’s edgier and younger Phineas Cole collection will also be offered. Women’s will have a larger presence on Oak Street, he said.
Founded in 1938, Paul Stuart operates its flagship and headquarters in New York, as well as three freestanding stores in Japan and more than 150 corners in major department stores in Japan and South Korea. Ostrove said the company is “fairly conservative” and will explore further expansion internationally and possibly domestically. “But we’re going to get this one open and under our belt, and go from there.”