Fashion retailer extends global reach
Fashion retailer Paul Smith is launching in Russia and India, with flagships also opening in New York and Paris, and outlets in Istabul and Beirut poised to open next year.
Company founder Sir Paul Smith said the chain is on track to generate sales of£611 million this year - up 9.4 per cent from£558 last year.
Paul Smith's Moscow store launched last week at the old state-owned GUM store in Red Square. Sir Paul told The Sunday Telegraph: 'It's bonkers. Our address is 3, Red Square, Moscow. Our store has pipes coming in it from the old KGB office above.'
The New York outlet opened 10 days ago and will also be the base for the retailer's US headquarters.
Sir Paul said he has 'no plans' to sell his 60 per cent stake in the company.
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