Paul Smith Net Worth $390 Million
Smith opened his own shop called Paul Smith Vêtements Pour Homme in Nottingham in 1970, which sold established clothing labels, alongside pieces that Smith had designed. The store was just 3 square meters and was located at 6 Byard Lane in Nottingham.
In 1976, Smith traveled to Paris to showcase his first men’s collection, which featured a mix of casual and semi-formal wear. After that, the Paul Smith brand continued to grow and he opened his flagship London store in 1979 on Floral Street in Covent Garden, London.
‘Paul Smith Women’ his first womenswear collection was launched in 1993, after reports of women coming into his stores buying smaller sizes to wear themselves.
The first Japan store opened in Tokyo in 1984, growing over the years to 165 stores across the country.
Smith opened his first shop in New York on Fifth Avenue in 1987. The company now has four shops in the state, the flagship on Greene Street as well as Williamsburg, Bleecker Street, and Brookfield Place.
In 1993, Smith took over a ‘workwear’ clothing company R. Newbold (established in 1885), and incorporated many of their designs into his new collection.
His childrenswear collection started in 1990 with the launch of a one-off collection for boys, including casual and tailored pieces. In 2010, Smith launched ‘Paul Smith Junior’ as a seasonal collection which often included remakes of his adult collections.
In 1995, the Design Museum exhibited ‘True Brit’, a show marking 25 years of his business. The show then went on to Glasgow for the ‘Festival of Design’ and then moved to his hometown of Nottingham and put on display in Nottingham Castle.
Smith published his first book, entitled You Can Find Inspiration in Everything in 2001. The brand launched its eCommerce site in 2004.
In 2013, Smith designed and made a school tie for Beeston Fields Primary School in Nottingham.
In 2016, Smith’s second book, Paul Smith’s Cycling Scrapbook was released, which documents a personal history of the sport he is very passionate about. In January 2016, Smith combined his men’s and women’s fashion shows, showcasing during Paris Fashion Week.
In 2019, Smith made a cameo appearance in the film Men in Black: International, he also designed the suits in the film. His company remains independent, the majority-owned by Smith.