The first Paul Smith store opened in Tokyo in 1984. "The licensee lost money on Paul Smith for the first three years," he says.
"By our fourth and fifth years in Japan, Paul Smith had started making money."
Neither Paul Smith the man, nor the manufacturing licensees -- now numbering eight in different sectors of the business, from men's and womenswear to accessories -- have looked back. In 2004-2005, Paul Smith Japan saw an increase in retail turnover of 10 percent. "I've been to Japan more than 80 times now," he says. "I've got my own office there. It's completely independent from the licensees, which means Paul Smith is in control of its own destiny."
After opening in Japan, Paul Smith Ltd went to South Korea and Singapore: "We've now got 12 shops in South Korea, which are worth a few million. Then there are two in Singapore and two in Bangkok. We've got six stores in China."
What's next for Paul Smith?
"The big three -- Russia, India and China -- are the places everyone wants to be."
Where does Smith get the energy? "I just love life. I like to be interested and interesting. I go swimming every day at 6.30am, then on for toast and Marmite at the same cafe. Walking to work I stop and talk to the road sweeper in Old Compton Street, he's a great guy.
"He's Polish and got married three weeks ago. We're all the same. I don't see myself as just a brand, Paul Smith is more than that."
He's certainly right about that.
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