Claire's
Encyclopedia
Claire's is a retailer
of accessories and jewelry to girls and young women. Claire's has over 3,000 locations worldwide: their stores are in 95% of all U.S. shopping malls, and in 33 countries. Claire's has done more ear piercings than any other retailer, over 80 million in 25+ years.
The majority of stores are of the Claire's store concept, and it is the only concept that operates outside North America. These stores are aimed principally at teen
s and tweens, and have a kid's section. They average about 1,000 sq. feet, are typically located in malls, and carry the widest selection of merchandise among Claire's brands. Claire's merchandise is targeted at different age groups ranging from babies to young adults. Customers can find earrings, necklaces, bracelets, purses, hair accessories, and fashion accessories. Claire's stores are merchandised to accommodate these different ages, and fashion trends are manipulated to appeal to all ages.
The second brand is Icing. These stores are targeted towards young women aged 19–28. The merchandise has a higher price point
, and is more mature. Most items are accessories and jewelry, but merchandise also includes items like candles, mineral-based cosmetics, and others. Icing typically does not offer licensed merchandise, giving the stores considerably less inventory, creating a less "over-stuffed" feel to customers.
Other variations of these stores exist, such as an Icing store on Halsted St. in Chicago
with marble fixtures and a more "boutique
" styling.
s in their products, ranging from punk
, gothic
, emo
, and rock chick to pink, glittery, and flowery items. Claire's merchandise is targeted at the fashion forward teen, tween, and young adult. Claire's merchandise directly mimics higher end style trends.
Claire's also carries an assortment of holiday items such as Valentine's Day, St. Patrick's Day, Easter, 4th of July
, Halloween, and Christmas items.
Nearly all Claire's locations also offer ear piercing
as all the staff are full trained in using the Studex 'gun'. Claire's does not pierce the cartilage of people under 16.
The store carries its own perfume
line.
in over-the-counter trading
.
The name was changed to FT Industries, Inc. in 1973, when Schaefer bought the company Claire's Boutiques, Inc., which had operated approximately 60 stores in the Chicago area.
During the early 1980s, Schaefer took the company in a new direction by divesting the manufacturing businesses and focusing the company on specialty retailing of women's fashion accessories
.
In 1983, the company name was changed again to the current name, Claire's Stores, Inc. The company was later listed on the NYSE under the symbol CLE.
In 1996, Claire's launched its Icing brand
In 1999, Claire's acquired the 768-store "Afterthoughts" chain from Venator Group, Inc.
and converted them to Icing stores.
On May 29, 2007, the company was acquired by private equity
firm Apollo Management
. Eugene Kahn was appointed CEO.
Since 2000, the company has diversified their merchandise
. This has become increasingly noticeable in their electronics and bedroom line.
Retailing
Retail consists of the sale of physical goods or merchandise from a fixed location, such as a department store, boutique or kiosk, or by mail, in small or individual lots for direct consumption by the purchaser. Retailing may include subordinated services, such as delivery. Purchasers may be...
of accessories and jewelry to girls and young women. Claire's has over 3,000 locations worldwide: their stores are in 95% of all U.S. shopping malls, and in 33 countries. Claire's has done more ear piercings than any other retailer, over 80 million in 25+ years.
Store types
Claire's Stores operates under two brands:The majority of stores are of the Claire's store concept, and it is the only concept that operates outside North America. These stores are aimed principally at teen
Adolescence
Adolescence is a transitional stage of physical and mental human development generally occurring between puberty and legal adulthood , but largely characterized as beginning and ending with the teenage stage...
s and tweens, and have a kid's section. They average about 1,000 sq. feet, are typically located in malls, and carry the widest selection of merchandise among Claire's brands. Claire's merchandise is targeted at different age groups ranging from babies to young adults. Customers can find earrings, necklaces, bracelets, purses, hair accessories, and fashion accessories. Claire's stores are merchandised to accommodate these different ages, and fashion trends are manipulated to appeal to all ages.
The second brand is Icing. These stores are targeted towards young women aged 19–28. The merchandise has a higher price point
Price point
Price points are prices at which demand for a given product is supposed to stay relatively high.- Characteristics :Introductory microeconomics depicts a demand curve as downward-sloping to the right and either linear or gently convex to the origin...
, and is more mature. Most items are accessories and jewelry, but merchandise also includes items like candles, mineral-based cosmetics, and others. Icing typically does not offer licensed merchandise, giving the stores considerably less inventory, creating a less "over-stuffed" feel to customers.
Other variations of these stores exist, such as an Icing store on Halsted St. in Chicago
Chicago
Chicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...
with marble fixtures and a more "boutique
Boutique
A boutique is a small shopping outlet, especially one that specializes in elite and fashionable items such as clothing and jewelry. The word is French for "shop", via Latin from Greek ἀποθήκη , "storehouse"....
" styling.
Merchandise
Claire's sells accessories such as costume jewelry, sterling silver and 14kt gold earrings, hypoallergenic earrings, hair accessories, purses, wallets, belts, socks, tights, legwarmers, sunglasses, and hats. Claire's also sells notebooks, pens, and stuffed animals. The stores offer a wide variety of styleFashion
Fashion, a general term for a currently popular style or practice, especially in clothing, foot wear, or accessories. Fashion references to anything that is the current trend in look and dress up of a person...
s in their products, ranging from punk
Punk fashion
Punk fashion is the clothing, hairstyles, cosmetics, jewelry, and body modifications of the punk subculture. Punk fashion varies widely, ranging from Vivienne Westwood designs to styles modeled on bands like The Exploited. The distinct social dress of other subcultures and art movements, including...
, gothic
Gothic fashion
Gothic fashion is a clothing style worn by members of the Goth subculture; a dark, sometimes morbid, eroticized fashion and style of dress. Typical Gothic fashion includes dyed black hair, black lips and black clothes. Both male and female goths wear dark eyeliner and dark fingernails. Styles are...
, emo
Emo
Emo is a style of rock music and its associated subcultureEmo may also refer to:- Businesses :* Emo , an Irish oil company and filling station chain* Emo Speedway, a racetrack in Emo, Ontario...
, and rock chick to pink, glittery, and flowery items. Claire's merchandise is targeted at the fashion forward teen, tween, and young adult. Claire's merchandise directly mimics higher end style trends.
Claire's also carries an assortment of holiday items such as Valentine's Day, St. Patrick's Day, Easter, 4th of July
Independence Day (United States)
Independence Day, commonly known as the Fourth of July, is a federal holiday in the United States commemorating the adoption of the Declaration of Independence on July 4, 1776, declaring independence from the Kingdom of Great Britain...
, Halloween, and Christmas items.
Nearly all Claire's locations also offer ear piercing
Earring
Common locations for piercings, other than the earlobe, include the rook, tragus, and across the helix . The simple term "ear piercing" usually refers to an earlobe piercing, whereas piercings in the upper part of the external ear are often referred to as "cartilage piercings"...
as all the staff are full trained in using the Studex 'gun'. Claire's does not pierce the cartilage of people under 16.
The store carries its own perfume
Perfume
Perfume is a mixture of fragrant essential oils and/or aroma compounds, fixatives, and solvents used to give the human body, animals, objects, and living spaces "a pleasant scent"...
line.
History
In 1961, Fashion Tress, Inc., the predecessor of present-day Claire's, was established by Rowland Schaefer. Fashion Tress was a manufacturer of wigs and accessories, and went publicInitial public offering
An initial public offering or stock market launch, is the first sale of stock by a private company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises...
in over-the-counter trading
Over-the-counter (finance)
Within the derivatives markets, many products are traded through exchanges. An exchange has the benefit of facilitating liquidity and also mitigates all credit risk concerning the default of a member of the exchange. Products traded on the exchange must be well standardised to transparent trading....
.
The name was changed to FT Industries, Inc. in 1973, when Schaefer bought the company Claire's Boutiques, Inc., which had operated approximately 60 stores in the Chicago area.
During the early 1980s, Schaefer took the company in a new direction by divesting the manufacturing businesses and focusing the company on specialty retailing of women's fashion accessories
Fashion accessory
Fashion accessories are decorative items that supplement and complement clothes, such as jewelery, gloves, handbags, hats, belts, scarves, wigs, watches, sunglasses, pins, stockings, bow ties, hand fans, leg warmers, leggings, neckties, suspenders, and tights....
.
In 1983, the company name was changed again to the current name, Claire's Stores, Inc. The company was later listed on the NYSE under the symbol CLE.
In 1996, Claire's launched its Icing brand
In 1999, Claire's acquired the 768-store "Afterthoughts" chain from Venator Group, Inc.
Foot Locker
Foot Locker, Inc. is an American sportswear and footwear retailer, with its headquarters in Midtown Manhattan, New York City, and operating in approximately 20 countries worldwide. Formerly known as Venator Group, Inc., it is the successor corporation to the F.W. Woolworth Company , and many of...
and converted them to Icing stores.
On May 29, 2007, the company was acquired by private equity
Private equity
Private equity, in finance, is an asset class consisting of equity securities in operating companies that are not publicly traded on a stock exchange....
firm Apollo Management
Apollo Management
Apollo Global Management, LLC is a private equity investment firm, founded in 1990 by former Drexel Burnham Lambert banker Leon Black. The firm specializes in leveraged buyout transactions and purchases of distressed securities involving corporate restructuring, special situations and industry...
. Eugene Kahn was appointed CEO.
Since 2000, the company has diversified their merchandise
Merchandising
Merchandising is the methods, practices, and operations used to promote and sustain certain categories of commercial activity. In the broadest sense, merchandising is any practice which contributes to the sale of products to a retail consumer...
. This has become increasingly noticeable in their electronics and bedroom line.