Tween accessories and beauty retailer Claire’s North American business has been saved from bankruptcy following its acquisition by Ames Watson.
The private investment firm has purchased most of the retailer’s North American stores and its IP for US$140m, with plans to “modernise and revitalise” its identity across the US.
The deal is expected to save between 790 to 950 stores across America, with the investment firm known for its ability to rebuild retailers.
With the Claire’s brand, Ames Watson said it looks to focus on exclusivity, customisation and cultural relevance.
In-store experiences will also be important as it sets out to create meaningful moments to get shoppers offline and in-store.
Lawrence Berger, Partner and co-founder at Ames Watson, said: “Claire's is one of those rare brands that defines a stage of life – old enough to buy your first lip gloss, but still young enough to believe it could change your world.
"The passion for this brand has been overwhelming, and we are eager to include the community as we move forward."
Tom Ripley, Partner and co-founder at Ames Watson, added: “Every turnaround we have done begins with people.
"Claire's has an incredibly passionate field team – many with 20 years or more in these stores – and their loyalty will be the foundation of this next chapter."
Image Credit: Mike Mozart from Funny YouTube, USA, CC BY 2.0