Stussy opens Hawaii store; more on the way

This year, Stussy will also open stores in Las Vegas, Washington D.C. and Toronto and open a concept shop inside Ubiq in Philadelphia.

In its retail model, Stussy aligns with local operators in each market but remains the controlling partner, Scott said.

Stussy, admired for its design aesthetic as well as its controlled distribution, already has stores in London, Los Angeles, San Francisco, New York, Milan and 48 in Japan.

On the economic front, Scott believes retail will get tough this year so Stussy is managing accounts more carefully, making sure retailers are buying the right product for their stores and not overextending themselves.

Scott also said that Stussy's retail customers that he met with at Agenda said business was good during the holidays - not the doom-and-gloom scenario many retailers reported.

Stussy's business model is staying the same, Scott said. Measured growth with limited distribution and limited availability of products which keeps the brand desirable and fresh. It's a model that many suitors who have pursued Stussy over the years have a hard time understanding, he said.

"If can be a very profitable business if you leave it alone," he said. "You can expand if it's done right. It's a very delicate retail balance."