In 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 — at least according to Paolo Porta, chief executive officer of Smythson.
“You’d be surprised by how popular it is,” Porta told WWD. “Our stationery and diary sales are up, and have been consistently up over the last few years. There’s been a resurgence in handwritten thank-you notes or Christmas cards so it’s 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.”
Smythson, 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’s relatively small size, at 28 million pounds last year or about $35 million to $40 million, there’s ample room for growth.
Best 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’s Smythson’s only shop in the U.S., though the brand wholesales to Bergdorf Goodman and few independent retailers.
In 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 Marché sells the brand.
Smythson 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.
“We are thinking about additional stores in the U.S.,” Porta said. “The U.S. is our second-largest market, with less than 20 percent of our revenue at the moment, and it’s mostly serviced through our own e-commerce. The U.K., our home turf, delivers more than 60 percent” of total revenues.
“Under our new private equity ownership, we have a relatively exciting plan to double in size over the next three to five years.”
Urban locations, such as South Coast Plaza and Bal Harbour Shops, would be considered, Porta said. “I’ve actually just been visiting potential locations two weeks ago. We are a very urban brand. We live in the city. We’re not suburban. As much as I love Long Island; Short Hills, N.J.; or Westchester, we’re probably not a brand that should live there.” He said that four or five other locations similar to South Coast Plaza or Bal Harbour Shops would be right for Smythson. “I don’t think there are like 20 doors in the U.S.,” for the brand.
Smythson’s previous Madison Avenue shop closed in 2023. “The financials no longer worked,” said Porta.
The 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.
Smythson 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’s 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’s featherweight paper.
“The opening of our Madison Avenue flagship marks the start of an important chapter in Smythson’s growth in the U.S., a market that is a key part of our international strategy,” said Porta. “With 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.”
