Paul Stuart is expanding its wholesale business by launching formalwear and accessories at Neiman Marcus and Saks Fifth Avenue.
The upscale menswear retailer began dabbling in wholesale five years ago by selling its footwear to these stores.
“We’ve been so pleased with how well Paul Stuart footwear has performed with our amazing retail partners since launching five years ago,” said Trevor Shimpfky, chief executive officer and president of Paul Stuart. “And now, we’re elated to have the opportunity to partner with both Neiman Marcus and Saks Fifth Avenue stores for the launch of our new formalwear collection. This is a fantastic opportunity for Paul Stuart to reach customers wherever they are.”
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The assortment includes tuxedos in wool and velvet, shawl-collared dinner jackets as well as complementary accessories. Retail prices range from $1,695 to $3,695 for tuxedos. The formalwear collection is now available online and in select stores in New York; Beverly Hills; Chicago; Palm Beach, Florida, and San Antonio, Texas.
Paul Stuart was founded in 1938 and by Ralph Ostrove and operates stores on Madison Avenue and in Southampton in New York as well as in Chicago and Washington, D.C. It also has an outlet across the street from its New York flagship to clear excess inventory, as well as a newly opened company-owned flagship in Aoyama, Tokyo, and some 80 shops-in-shop and close to 500 corners in Japan. It is owned by Mitsui, its longtime Japanese licensee.
Shimpfky was named CEO last July.