| Type | Private |
|---|---|
| Industry | Retail |
| Founded | 1961 |
| Founder(s) | Rowland Schaefer |
| Headquarters | Pembroke Pines, Florida, U.S. |
| Number of locations | > 3,000 stores |
| Area served | Worldwide |
| Key people | Gene Kahn, CEO[1] |
| Products | Accessories, jewelry, and cosmetics |
| Revenue | US$ 1.41 Billion (2008)[1] |
| Operating income | -US$ 446 Million (2008)[1] |
| Net income | -US$ 644 Million (2008)[1] |
| Owner(s) | Apollo Management |
| Employees | 17,600 (Jan 2009) |
| Website | www.claires.com |
Claire's is a retailer of accessories and jewelry to girls and young women, with its headquarters in Pembroke Pines, Florida, in Greater Miami.
Claire's has over 3,000 locations worldwide: their stores are in 95% of all U.S. shopping malls, and in 33 countries.[1] Claire's has done more ear piercings than any other retailer, over 80 million in 25+ years.[2]
In 1996 Leslie Mann of the Chicago Tribune said that "Although the management of Claire's says the company doesn't advertise and is deliberately low-profile, the name "Claire" is as familiar to female Baby Boomers as "Ringo." To the Boomers' mall-cruising daughters--and, more and more, to their sons--it's right up there with singer Puff Daddy."[3]
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Claire's has its headquarters in Pembroke Pines, Florida, in Greater Miami.[4][5] The CEO has his office in Pembroke Pines.[3] In addition, the company's customer service and investor relations divisions are located in the Pembroke Pines offices.[6]
In addition to the headquarters, Claire's also a facility in Hoffman Estates, Illinois,[7] in a brown brick building off of Interstate 90.[3] The building serves as Claire's distribution center and main facility, and all merchandise is routed through this facility. Its products, which as of 1996 are mainly imported, are distributed and marketed through the Hoffman Estates location.[3] The company's buying, distribution, and marketing divisions are in the Hoffman Estates facility.[6] As of 1996, 236 full time employees and several temporary employees work in the facility. Leslie Mann of the Chicago Tribune said that the facility "contrasts with Claire's glittery stores in the United States, Canada, Puerto Rico, the United Kingdom and Japan."[3] Mann added that "Except for the prototype store in the lobby and the fashion accessories that line the walls of the buyers' offices, the center is unremarkable."[3] Previously a facility in Wood Dale, Illinois served the purposes now held by the Hoffman Estates office.[3]
As of 1997 and since 1973, the CEO regularly commutes between Pembroke Pines and Hoffman Estates. As of 1996 Claire's also has offices in New York City and Hong Kong.[3]
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 teens 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.[8] 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.[9]
Other variations of these stores exist, such as an Icing store on Halsted St. in Chicago with marble fixtures and a more "boutique" styling.
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 styles 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 13.
The store carries its own perfume line.
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 public 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. In 1996 Schaefer said that the chain, which already had the name "Claire's" when it was acquired in 1973, was named after a person's relative.[3]
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.[10]