Fashion label Paul Smith to open first Australian store on Collins Street, Melbourne
British fashion label Paul Smith will be opening its first stand-alone store in Australia in mid-2012 on Collins Street, Melbourne.
It will be located at the Paris end in Investa Property Group's heritage-listed building at 120 Collins Street.
Paul Smith already has shops around the world including London, Paris, Milan, New York, San Francisco, Hong Kong, Singapore, Taiwan, the Philippines, Korea, Kuwait, U.A.E. – and more than 200 throughout Japan.
The 250-square-metre flagship Collins Street store lease was negotiated by CBRE and Savills.
The luxury fashion precinct already includes international luxury brands Cartier, Louis Vuitton, Bulgari, Gucci, Ermenegildo Zegna and Chanel.
"They join Joe Black the Tailor and Alistair Trung at the building, and we're confident that the store will have a real wow factor upon opening mid next year," says Claire Clark, general manager of 120 Collins Street.
Retail turnover in the Melbourne CBD had outperformed all other high street shopping strips in Victoria, she adds.
"Paul Smith’s business is an exciting addition to the precinct’s pre-eminent fashion credentials, and continues the tradition of prestigious fashion houses and boutiques that have set up shop here over the years,” says Michael Di Carlo from Savills.
CBRE agent Max Cookes suggests the deal is “testament to the strength of the retail market.”
Paul Smith offers 14 different collections including Paul Smith, PS by Paul Smith, Paul Smith Jeans, Paul Smith London, R.Newbold (Japan only), Paul Smith Accessories, Paul Smith Shoes, Paul Smith Fragrance and Paul Smith Watches.
The shops typically reflect the character of the designer and chairman, coming with an extensive selection of clothing, jewellery, books, art, antiques and other products.