Private investment company Middle West Partners (MWP) has acquired the luxury menswear brand Paul Stuart in a deal completed in conjunction with apparel manufacturer Peerless Clothing.
MWP and Peerless Clothing have acquired the brand from Mitsui & Co, which had controlled Paul Stuart for more than five decades.
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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.”
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By GlobalDataAccording 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 this year, MWP also acquired high jewellery brand David Webb, further expanding its portfolio in premium consumer businesses.
MWP co-founder Michael Hamp said: “Paul Stuart has been one of my family’s favourite brands for more than 25 years. It has a look that’s distinctly its own – when you walk down the street, you know it’s Paul Stuart. My father, and now my brothers and I, have worn Paul Stuart for as long as I can remember. It is both a privilege and honour to take on the responsibility of stewarding this brand.”
Founded in 1938, Paul Stuart currently operates four boutiques in the US, located in New York City, Southampton, Chicago and Washington, DC.
Established in 2022, MWP targets investments in consumer retail, sports and entertainment.
Peerless Clothing produces tailored apparel for men and boys, serving department stores and speciality retailers throughout the US, Canada, and Mexico.
