Long term Japanese licensee Mitsui has bought full control of the US luxury brand Paul Stuart.

Paul Stuart opened its first store in 1938, on Madison Avenue in the heart of New York, as men’s fashion apparel specialty store, bringing European fashion culture to the US market.

Paul Stuart has established itself as one of the leading American luxury brands in the course of its 75 year history.

Mitsui started to import Paul Stuart products to Japan in 1975 and in 1991 entered into an exclusive license contract to produce and sell its products in Japan. It has expanded the business in the market with Sanyo Shokai as its main sub-licensee.

There are two Paul Stuart flagship stores in Aoyama and Ginza in Tokyo, and approximately 100 shops in department stores and outlet shops nationwide, as well as e-commerce sites, all operated by Sanyo.

The Paul Stuart trademark has been registered in over 30 countries in the Americas, Europe, and Asia. Through the current acquisition, Mitsui will secure access to the brand’s worldwide trademark.

This will allow Mitsui to expand its business to a full-scale global brand business.

Mitsui said it will render its utmost effort in conserving the brand’s heritage, and elevate the value of the brand, by using its skills in brand marketing, retail operations and product procurement.

The Japanese company aims to further expand the Japanese license business to approximately US$231 million in 2015.

It considers emerging countries as strategic markets in the fashion business domain.

While the fashion market becomes more mature and sophisticated, as the income level rises in these markets, Mitsui believes that the demand for the Paul Stuart brand will grow, and will contribute to expand brand recognition and business in these markets.

GB