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February 22, 2013
High-end clothing company Paul Stuart Inc. has been sold to Japanese licensee, Mitsui & Co.
Mitsui acquired 100% of the brand's assets on December 28, the company announced.
The company began importing Paul Stuart's wares to Japan in 1975 and started licensing the brand in 1991. Last year, annual retail sales of Paul Stuart in Japan were near $133 million. The sales were generated from two flagship stores, 100 department stores and outlets, and an ecommerce site. Mitsui expects to increase the revenue to $231 million in Japan in the next two years.