After being in Germany for ten years, the British luxury brand Paul Smith plans to close all its stores in Berlin, Hamburg, and Munich at the end of January. The closures were confirmed due to changing shopping habits influenced by the pandemic and the unprofitability of the brick-and-mortar stores despite their prime locations. In the future, the brand will continue to sell its products in Germany through wholesale distributors. In the 12 months ending in June 2023, Paul Smith's turnover increased by 7.7 percent to £212 million($278 million), with growth seen across all major channels.