Despite the pandemic, this fashion firm opened a store in downtown Los Angeles at the end of July, but has reported a decrease in sales. Chairman Sir Paul Smith, 74, co-founded the company in 1971, after his ambition to become a professional racing cyclist was thwarted by a serious accident. The business operates stores in countries including Japan, France, the UK and South Africa, and it also generates revenue through e-commerce, wholesale and licensing. Licensee Itochu Corporation, of Japan, owns a minority stake. Sales rose to £214.9m in 2019.
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