| Former type | Public (NYSE:TWB) |
|---|---|
| Industry | Retail |
| Fate | Acquired by Dress Barn |
| Founded | 1987 (As Limited Too, Inc.), 1999 (As TOO, Inc), 2006 (As Tween Brands, Inc.) |
| Defunct | 2009 |
| Headquarters | New Albany, Ohio, USA |
| Number of locations | 887 Justice stores (July 2010)[1] |
| Key people | Michael W. Rayden, Chairman & CEO Kenneth T. Stevens, President and COO |
| Website | http://www.tweenbrands.com/ |
Tween Brands, Inc. (Former NYSE symbol: TWB), formerly known as Too, Inc., operated Justice branded stores. Justice sells apparel, underwear, sleepwear, swimwear, lifestyle, accessories, and personal care products aimed at girls age 8-14 at a high price. Justice operates at mainly non-mall locations such as Levis Commons and Fallen Timbers. Until its acquisition by Dress Barn, Tween Brands operated 867 Justice stores and 43 Limited Too stores, which the Company had almost completely converted to Justice Stores.[2] Limited Too stores sold clothes similar to Justice, but at a higher price point. Three times a year, spring, fall and holiday, Limited Too offered "Too Bucks", which are received with a $50 purchase, and are worth $25 off every $50 purchase(as of 2008) and "Bonus Too Bucks" which are worth $15 off every $40 purchase. Justice offers the same concept, called "J Bucks". On August 12, 2008, Tween Brands announced that the nearly 600 Limited Too would convert to the lower-price Justice brand, discontinuing the use of the Limited Too name.[3]
On June 25, 2009, Dress Barn NASDAQ: DBRN announced that it would buy Tween Brands, Inc, in a friendly acquisition.[4]
On January 1, 2011, Dress Barn completed its reorganization into Ascena Retail Group, Inc. trading on the NASDAQ under the stock ticker symbol NASDAQ: ASNA.[5]
Contents |
Limited Too was created by The Limited, Inc. in 1987 as a younger girls/infants version of The Limited. From 1987 - 1995, the number of stores increased from 2 to 288 different retail locations. In 1996, a new senior management team refocused Limited Too into a preteen girls fashion store. In 1999, Limited Too, Inc. spun off to establish a strong and independent brand identity.
From 2001 - 2003 the company operated the mishmash chain which targeted 15 - 20 year old women and sold apparel, accessories, and gifts and competed head-to-head with chains like Gadzooks, Wet Seal, and the women's businesses of Abercrombie & Fitch, Hollister Co., and American Eagle Outfitters. The chain folded in 2003 because Too Inc. felt that they knew and understood the preteen customer better. Committed to this focus, Too Inc. launched the first Justice: Just for Girls stores in January 2004.
On July 10, 2006, Too Inc. completed its name change to Tween Brands, Inc., and began trading on the NYSE under the symbol, NYSE: TWB. In February 2008, there were 582 Limited Too stores in 47 states and Puerto Rico as well as 25 franchised stores in the Middle East. Justice operates 260 stores throughout the U.S.[6]
In August 2008, Tween Brands announced that it would discontinue its Limited Too line of 586 stores. Although, select stores will still offer a line of higher-quality Limited Too clothes in Justice locations. 26 of the stores will be closed, and 560 converted to its lower-priced Justice brand, by the first quarter of 2009. [7]
In 2007 Slate magazine published an article by Emily Yoffe which was critical of the clothing offered for pre-teen girls at several shops, including Limited Too. When she took her eleven-year-old daughter shopping for school clothes, the range available at Limited Too ran to clothing "encrusted with rhinestones or sparkling with glitter", a category Yoffe called "Nitwit Wear" (she mentions a T-shirt with the slogan "I Left My Brain In My Locker"), push-up bras for pre-teens, and boyshort underwear emblazoned "Buy it now! Tell Dad later!"[8]