Paul smith back in China market

Topics: Brand, Hong Kong, Brand management Pages: 2 (464 words) Published: November 16, 2013
Paul Smith Ltd., the British fashion label, plans to open 25 outlets in China in the next five years as it re-enters the world’s second-largest economy to tap wealthy customers for growth. The brand, worn by former English footballer David Beckham and actor George Clooney, will focus on establishing outlets in Tianjin, Beijing, Shanghai and Chengdu and has no plans for smaller cities in the next five years, Paul Smith, the founder and designer of the fashion house, said in an interview today. “It’s starting to be the time when we can have a success in China,” the 66-year-old owner dressed in navy blue suit and long silver gray hair said in Beijing at the opening of his first flagship store in China today. “Chinese people now are traveling a lot to London, Paris, Milan and New York” and they have becoming increasingly aware of the brand, he said. Paul Smith joins Prada SpA and Burberry Group Plc in expanding in China as consumers’ rising purchasing power draws global brands to Asia. Urban disposable income per capita in the world’s most populous country jumped 10.8 percent to $1,196 in the first quarter from $1,079 a year ago. Known for slim-fitting suits and bold colors, Paul Smith is returning to China after an unsuccessful first attempt in 2002 because at that time most consumers in the country with new money preferred brands that could show off wealth, he said. The company had exited China in 2007. “We have more customers in China now who want discreet and more understated simple design,” Smith said. “Paul Smith isn’t a brand for people longing for an association of a logo.” Flagship Store

Painted in pink and yellow, the 359-square-meter duplex store is located in Sanlitun in Beijing, a shopping district with stores selling brands including Prada’s Miu Miu and Kering’s Balenciaga. The closely held company, owned 60 percent by the founder, has shops in London, Paris, Hong Kong, Tokyo and New York. Its Beijing flagship store, as well as other upcoming outlets...
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