<\/p>\n
\n\tIn the age of computers and social media, old-fashioned pen and paper are still preferred by many for writing letters, thank-you notes, holiday and birthday greetings \u2014 at least according to Paolo Porta, chief executive officer of Smythson.<\/p>\n
\n\t\u201cYou\u2019d be surprised by how popular it is,\u201d Porta told WWD. \u201cOur stationery and diary sales are up, and have been consistently up over the last few years. There\u2019s been a resurgence in handwritten thank-you notes or Christmas cards so it\u2019s much more personal correspondence compared to an email that just lands in your inbox. We are also seeing people benefiting from our bespoke stationery services and creating their own thank-you cards or correspondence paper, that feels personal and unique.\u201d<\/p>\n
\t\t\t\t\tInside the new Smythson shop on Madison Avenue.<\/p>\n
\t\t\t\t\t\t\t\t\tBrett Wood<\/p>\n
\n\tSmythson, founded in 1887 by Frank John Smythson in London, has entered into a growth phase spurred by Iconic Brand Co., a heritage luxury portfolio company controlled by private equity firm Oakley Capital. Considering Smythson\u2019s relatively small size, at 28 million pounds last year or about $35 million to $40 million, there\u2019s ample room for growth.<\/p>\n
\n\tBest known for stationery, pens and diary books and, more recently, leather goods and accessories, Smythson returned to Madison Avenue with a shop in early October after a three-year absence. It\u2019s Smythson\u2019s only shop in the U.S., though the brand wholesales to Bergdorf Goodman and few independent retailers.<\/p>\n
\n\tIn Europe, Smythson opened a shop in Heathrow Airport in London last July, and there is a freestanding boutique on Sloane Street in London. The brand also has concessions in Harrods, Selfridges and Liberty of London, and Le Bon March\u00e9 sells the brand.<\/p>\n
\n\tSmythson has expanded its assortment over the last several years with new accessories and gift-related products, including a tie-in this month with the Aston Martin Aramco Formula 1 Team on a collection of stationery, travel and tech accessories.<\/p>\n
\n\t\u201cWe are thinking about additional stores in the U.S.,\u201d Porta said. \u201cThe U.S. is our second-largest market, with less than 20 percent of our revenue at the moment, and it\u2019s mostly serviced through our own e-commerce. The U.K., our home turf, delivers more than 60 percent\u201d of total revenues.<\/p>\n
\n\t\u201cUnder our new private equity ownership, we have a relatively exciting plan to double in size over the next three to five years.\u201d<\/p>\n
\n\tUrban locations, such as South Coast Plaza and Bal Harbour Shops, would be considered, Porta said. \u201cI\u2019ve actually just been visiting potential locations two weeks ago. We are a very urban brand. We live in the city. We\u2019re not suburban. As much as I love Long Island; Short Hills, N.J.; or Westchester, we\u2019re probably not a brand that should live there.\u201d He said that four or five other locations similar to South Coast Plaza or Bal Harbour Shops would be right for Smythson. \u201cI don\u2019t think there are like 20 doors in the U.S.,\u201d for the brand.<\/p>\n
\n\tSmythson\u2019s previous Madison Avenue shop closed in 2023. \u201cThe financials no longer worked,\u201d said Porta.<\/p>\n
\n\tThe new 1,400-square-foot Madison Avenue shop is situated between 56th and 57th Streets. Prices range from a $10 pen and $17 ballpoint pen refill, to cocktail and tea sets and jewelry boxes from $3,000 to $5,000. There are also premium leather briefcases, travel bags, and overnight bags, priced $2,000 to $3,000. Stationery and books represent about 35 percent of sales; leather goods, 65 percent. Many of the books are tailored toward activities and hobbies, such as gardening, wine cellars, recipes and sports.<\/p>\n
\n\tSmythson partnered with architectural design studio Johnson Pinney Architects to develop the 575 Madison Avenue space, which carries diaries, notebooks, stationery, business and travel accessories, games and homeware. The shop is designed with curved wall panels defining each category, handcrafted joinery using European oak, and brushed brass details. There\u2019s a bespoke stationery salon (the only one outside of London) with consultants advising on creating personal stationery, business cards, holiday cards and wedding invitations. Artisan craftspeople gold-stamp diaries, notebooks and leather styles with initials and motifs. Fung + Bedford created a large art installation suspended from the ceiling, with two feather-like forms, inspired by origami and the watermark found on Smythson\u2019s featherweight paper.<\/p>\n
\u201cThe opening of our Madison Avenue flagship marks the start of an important chapter in Smythson\u2019s growth in the U.S., a market that is a key part of our international strategy,\u201d said Porta. \u201cWith a brand like Smythson, there is a real need to touch and feel the product and its quality and craftsmanship, which are incredibly important to a business that survived 140 years.\u201d<\/p>\n
\t\t\t\t\tPaolo Porta<\/p>\n
\t\t\t\t\t\t\t\t\tCourtesy of Smythson<\/p>\n
#Returning #Madison #Avenue #Smythson #Eyes #U.S #Sites<\/p>\n","protected":false},"excerpt":{"rendered":"
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