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Parisian Novelty Co. was a Chicago-based manufacturer of novelties founded in 1898 by Louis L Joseph. They manufactured a variety of advertising novelties, such as buttons, compacts, mirrors, and measuring tapes. The Busy Beaver Button Museum has several examples of their products, which can be seen here.
Their initial operating facility was located at 35th and Western Avenue in Chicago, but later moved to a new facility on 49th Place. In November of 2008, the company was split up, and the button division was acquired by the Matchless Group. The name was changed to Matchless Parisian Novelty, and they continue to operate out of their 49th Place Chicago facility.
Source:
Matchless Parisian Novelty. (n.d.) Matchless Parisian Novelty. Retrieved from http://www.matchlessparisiannovelty.com/about.htm