I used to be a fan of Paul Smith clothes, and certainly respect his Mod origins, but I have issues with Paul Smith design over recent years.
Firstly, his clothes seem very safe and middle-of-the-road - whenever I go into a Paul Smith shop there are a few interesting items but lots and lots that are little different from any other fashion retailer, with very average quality. They seem to be the BMW of clothing - almost the 'default' option for anyone wanting something just above the middle market.
Secondly, there are just too many shops - over 200 in Japan alone apparently. This affects exclusivity and my willingness to pay the relatively high prices.
Thirdly - and Paul Smith is certainly not alone here - he seems to do little in practice to support manufacturing in England. I can't find any Paul Smith items that are made in England, which I think reflects poorly on the brand and is a missed opportunity to underline their inherent Englishness. Perhaps that is the thinking - appeal to the mass market by being unconstrained by association with any country?