MajorsSep 24, 2021
Brilliant Earth Is Now a Public Company MajorsOct 04, 2021
Claire’s Plans to Go Public
After emerging from bankruptcy, the mall staple has filed for an IPO.
Jewelry and accessories chain Claire’s filed for an initial public offering Wednesday.
Hoffman Estates, Ill.—Claire’s Stores Inc may soon go public after filing for an initial public offering Wednesday, just three years after emerging from bankruptcy.
The kid-friendly chain, best known for its ear piercing services, sells costume and fashion jewelry, accessories, toys, and more.
The retailer recently launched a subscription service, introducing its quarterly “Cdrop” boxes as it looks to appeal to millennial, Gen Z, and even younger customers.
Claire’s operates its flagship brand as well as Icing, which caters more toward young women.
According to the company’s S-1 filing with the U.S. Securities and Exchange Commission, there were 1,390 company-operated Claire’s stores in North America and 887 in Europe as of July 31, alongside 324 franchised stores, mainly in the Middle East and South Africa . Icing stores number 191.
Related stories will be right here …
The kid-friendly chain, best known for its ear piercing services, sells costume and fashion jewelry, accessories, toys, and more.
The retailer recently launched a subscription service, introducing its quarterly “Cdrop” boxes as it looks to appeal to millennial, Gen Z, and even younger customers.
Claire’s operates its flagship brand as well as Icing, which caters more toward young women.
According to the company’s S-1 filing with the U.S. Securities and Exchange Commission, there were 1,390 company-operated Claire’s stores in North America and 887 in Europe as of July 31, alongside 324 franchised stores, mainly in the Middle East and South Africa . Icing stores number 191.
The mall staple filed for Chapter 11 bankruptcy protection in March 2018, struggling under a mountain of debt following a private equity takeover.
Elliott Management and Monarch Alternative Capital took the reins after the company emerged from bankruptcy in October 2018 and will maintain control post-IPO, the filing states.
Post-bankruptcy, the company is still sitting on close to $1 billion in debt, including $496 million in long-term debt and more than $429 million in derivative liabilities.
However, during the first half of 2021, the company doubled its sales year-over-year to $629 million and swung to a profit on its operating costs after being in the red for the first half of 2020, as per its filing.
The retailer plans to invest more than $150 million in business improvements by the end of fiscal 2021, including expanding its store count, building a management team, bolstering its e-commerce capabilities, and improving its ear piercing services.
Claire’s may soon join a long list of retailers that have gone public in recent months, including Brilliant Earth and Warby Parker, as well as Mattress Firm and Guitar Center, which recently filed IPOs.
If the accessories chain succeeds, it will list its shares on the New York Stock Exchange under the ticker symbol "CLRS. "
Editors' Picks
Sponsored by
More on Majors
The Latest
ColumnistsOct 22, 2024
The Smart Lab: Tips for Preparing for Your Best Q4 YetFrom prioritizing the customer experience to optimizing inventory, columnist Emmanuel Raheb shares the keys to a successful holiday season.
Events & AwardsOct 22, 2024
WJA Foundation Names First Winner of Hedda Schupak Scholarship Journalist Priya Raj plans to use the scholarship funds to further her media qualifications and amplify marginalized communities.
SourcingOct 21, 2024
De Beers to List Single Country of Origin for Some of Its Diamonds It will start with rough diamonds that are larger than 1.25 carats and later expand to rough diamonds that are above 1 carat.
Brought to you by
Enhance Your Expertise with IGI’s In-Person Courses in NYCThis fall, sharpen your skills in jewelry grading, quality control and diamond assessment.
CollectionsOct 21, 2024
Pandora Turns Things Upside Down in New ‘Stranger Things’ CollectionThe capsule collection is inspired by friendship and connection, with a nod to ‘80s fashion.
Weekly QuizOct 18, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsOct 18, 2024
Piece of the Week: Babe Paley’s Clip-Brooch NecklaceThe New York socialite’s elegant, transformable piece from the 1960s is headed to auction later this month.
Recorded WebinarsOct 18, 2024
Watch: 2 Experts on the Challenges of Appraising Lab-Grown DiamondsTexas jeweler Susan Eisen and NAJA’s Gail Brett Levine discuss how lab-grown diamonds have altered the landscape for jewelry appraisers.
Brought to you by
Why You Can't Miss JA New York This FallDon't miss this one-stop-shop in October, curated with buyers’ needs in mind.
CrimeOct 18, 2024
The End of an Era: John Kennedy Reflects On 32 Years at JSA On the verge of retirement, Kennedy recounts the most stressful stretch of his time at JSA and reveals what he’ll miss about the industry.
AuctionsOct 17, 2024
Shirley Bassey’s ‘Baignoire’ Breaks Auction Record Part of the Welsh singer’s extensive jewelry collection, the bathtub-shaped Cartier watch went for nearly $72,000 at Sotheby’s Paris.
GradingOct 17, 2024
Renowned Gemologist and Author Alan Hodgkinson Dies at 87 He dedicated his life to researching, writing, and speaking about gemstones in the hope he could inspire others to share his passion.
Policies & IssuesOct 17, 2024
Ethical Gem Fair Returns to BrooklynThe event is slated for Oct. 17-19.
SourcingOct 17, 2024
Gem Legacy Adventures Announces 2025 Trip 12 spots are available for travelers to visit Northern Tanzania and Southern Kenya from July 25 to Aug. 4.
IndependentsOct 16, 2024
Retailer Hall of Fame 2024: Ronald Leitzel and Tonia Leitzel UlshThough they didn’t grow up together, siblings Ronald Leitzel and Tonia Leitzel Ulsh have grown together as co-owners of Mountz Jewelers.
CrimeOct 16, 2024
Two Arrested in Home Invasion Murder of 72-Year-Old Detroit JewelerThe men allegedly posed as employees of a local energy company to gain entry to Hussein Murray’s home and then killed him in the basement.
FinancialsOct 16, 2024
LVMH Jewelry, Watch Sales Down 5 Percent So Far This Year Sales slipped 4 percent in the third quarter in an environment the company described as economically and politically uncertain.
SurveysOct 16, 2024
Here’s What the NRF Expects This Holiday SeasonThe U.S. presidential election, inflation, and the aftermath of recent hurricanes could all have an impact on spending.
CollectionsOct 15, 2024
Miseno Celebrates 10 Years With High Jewelry, New HiresThe Italian brand is also releasing a coffee table book and opening its headquarters and workshop in Valenza, Italy.
IndependentsOct 15, 2024
Retailer Hall of Fame 2024: Craig and Judd Rottenberg The pair of brothers, each with his own strengths, takes a divide-and-conquer approach to bettering the stores they grew up working in.
SourcingOct 15, 2024
Petra’s Sale of Koffiefontein Diamond Mine ApprovedThe mining company is set to hand over the South African diamond mine to an affiliate of Stargems Group by the month’s end.
MajorsOct 15, 2024
Sy Kessler Celebrates 56 Years in BusinessThree generations of the Kessler family have been a part of the Dallas-based company.
AuctionsOct 11, 2024
Bonhams Reports ‘Fierce Bidding’ for Dianne Feinstein’s Jewels All 74 lots of jewelry belonging to the late Democratic senator found buyers at Bonhams Los Angeles.
CollectionsOct 11, 2024
Piece of the Week: Gemfields x Kimberly McDonald Jewelry SuiteThe two collaborated on a necklace and a pair of earrings that praise the beauty of Zambian emeralds.
MajorsOct 11, 2024
The Kingswood Company Launches New Retail Fixture ProgramRetailers can move jewelry care lines off countertops with the fixtures, which were designed for a “sophisticated retail environment.”
Events & AwardsOct 11, 2024
ICA Congress Goes to BrazilThe 20th ICA Congress is slated for May 19-22 in Brasília, Brazil.
MajorsOct 10, 2024
Why Ritani Is Partying Like It’s 1999The jeweler is celebrating its 25th anniversary with a throwback campaign.
CollectionsOct 10, 2024
Pomellato Revives Past Designs for New Capsule Collection“Memorie D’Archivio” was inspired by the “Mora” and “Mosaico” collections the brand introduced in the ‘90s.
