Editor’s Note
Paul Stuart, the iconic American menswear brand, has been acquired by private investment firm Middle West Partners from its longtime owner, Mitsui & Co. This ends a partnership of over 50 years, during which Mitsui helped establish the brand’s significant presence in Japan.
Paul Stuart, Inc., the operator of the “Paul Stuart” brand, announced on December 22 (New York time) that it has been acquired by the private investment firm Middle West Partners (MWP). The shares were acquired from Mitsui & Co. Mitsui & Co. began importing Paul Stuart products in 1975, obtained exclusive production and sales rights for the Japanese market in 1991, and acquired all shares of Paul Stuart in 2013, building a partnership spanning over 50 years. MWP stated it will collaborate with its acquisition partner, the American apparel manufacturer PEERLESS INDUSTRIAL GROUP, INC. (PEERLESS), to jointly focus on investing in product design.
Paul Stuart was founded in 1937 as a menswear store on Madison Avenue in New York. It proposes a unique “Contemporary Classic” style that blends British tradition with Ivy League influences for both men and women.
MWP acquired the jewelry brand “David Webb” earlier this year, and the acquisition of Paul Stuart follows this move. Kevin Kelleher, Managing Partner of MWP, explained the rationale behind the acquisition:
Financial details such as the acquisition amount were not disclosed. In connection with the acquisition, John Hutchison, former CEO of Bonobos, has been appointed as the next CEO of Paul Stuart, Inc.
As the trademark rights for Paul Stuart in Japan are held by Sanyo Shokai Ltd., the company’s public relations stated that “there will be no impact on the domestic (Japanese) market.”
