The store, which has helped millions of girls and young women around the world to be unique, has been hit by falling sales, and its owner, Apollo Global Management LLC, is considering giving up control.
Competition from online retailers hit Claire’s efforts and in recent years it has tried to sell its products in other stores, including supermarkets and pharmacies. In January this year, the company announced that it will conduct business restructuring in the United States.
CEO Ron Marshall said earlier this year: “The steps we are taking with Lazard will help ensure Claire’s long-term success in the coming years.
“We believe that now is a good time to take this initiative. We hope to assure our suppliers, employees and stakeholders that we believe we have sufficient liquidity to fulfill our commitment to complete this process.”
“The way consumers shop has continued to evolve and we must also develop. As part of our 2018 development plan, we will promote 4,000 stores across the country and plan to develop our online capabilities.”
Claire has 4,220 branches in 45 countries, and is also the world’s largest ear piercer, and wears 3 million ear-holes at stores every year. The company began shirking its projects more than 100 million times in 1978. The chain also sells millions of Halloween costumes and disco costumes.
