Middle West Partners takes over US menswear brand Paul Stuart [Yahoo! Finance]
MITSUI & CO LTD ADR (MITSY)
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Source: Yahoo! Finance
MWP and Peerless Clothing have acquired the brand from Mitsui & Co, which had controlled Paul Stuart for more than five decades. The buyer stated that the acquisition “marks an important milestone for Paul Stuart, solidifying its future and continued growth”. As part of the transaction, John Hutchison, former CEO of menswear brand Bonobos, has been named Paul Stuart's incoming CEO. He will oversee the company's next stage of development under its new ownership. MWP managing partner Kevin Kelleher said: “The Paul Stuart name continues to resonate with a discerning client 87 years later, and we still see so much more potential for this luxury heritage brand. Our goal is to protect its unmatched quality and amplify its unique attributes on a global scale.” According to MWP and Peerless Clothing, priorities under the new structure will include reinforcing Paul Stuart's core brand positioning, exploring overseas expansion and directing investment into product design. Earlier t
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