The designer, who set up his eponymous brand in 1970 which is now sold to 75 countries worldwide, spoke about his journey in the industry and what has contributed to his success.
“At Paul Smith we have grown gently,” he said. “We had no borrowings and a real Jam jar mentality; if there is money in the jar we spend it, if not we don’t. That is my way.”
He said that one of the important lessons learnt was the ability to say no and to be motivated by passion for what you do and not just for financial reward.
“Go with your gut, don’t do something for the sake of it. Learning when to say no is one of the most important lessons I have learnt. ”
He said that to survive in today’s tough fashion industry you need to “give everything” or give up. “Live it, love it and be very aware of your industry. Know everything you can about it, adore it. My business is always based on the heart, not financial motivations.
He added that “curiosity” is the best tip he could give aspiring designers and to acknowledge that designers today have to have the commercial as well as the creative mind set. “You need to do jobs that pay the bills and well as the purity part.”
He also said that the industry must dig deep to help rejuvenate the image of Made In Britain especially those who have real history and heritage. “We lost a lot of great brands through complacency,” he said. “Brands like John Smedley and Johnstons of Elgin have great heritage and have also modernised to stay successful; the key is having both.”
The breakfast for key industry leaders was held in The Ivy on October 31, hosted by UKFT and sponsored by Clipper Logistics.
UK Fashion and Textile Association (UKFT)
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