In these disruptive times in fashion market which strategy to follow? Paul Smith’s point of view;
Paul Smith has slimmed down its brand hierarchy to produce only two “collections”: Paul Smith, and the more affordable PS by Paul Smith. There will be four deliveries annually for each; and, curiously, menswear and womenswear pieces will feature in both, as well as shoes and accessories.
“We’re completely aware of what we’re doing. It’s not scary, it’s just a readjustment. There must be so many brands out there that are just locked into this formula that they can’t get out of and I just said, ‘We’re stopping that. We’re not doing that anymore.’ I’ve sat round this table so many times with my sales guys saying, ‘If you put Paul Smith on here, we could sell 4,000 t-shirts next week.’ But I’m not going to do it. It’s about about keeping your feet on the ground and focus.”
Source: businessoffashion.com – streamlining collections Paul Smith