Article Excerpt:
TWST: We'd like to begin with a brief sketch of the history of Claire's and a picture of things you are doing at the present time.Ms. Schaefer: Claire's business began over 30 years ago. We have been growing steadily since the 1970s and we now have over 3,000 stores globally. We have approximately 1,700 Claire's stores in the US, Canada and the Caribbean, plus another 430 Icing by Claire's stores in North America. We have almost 800 Claire's Stores in Western Europe, specifically in the UK and Ireland, France, Spain, Belgium, the Netherlands, Switzerland, Austria and Germany. We have a joint venture with a Japanese partner, AEON Co., Ltd. And we have franchise agreements in the Middle East and in South Africa, so that brings us to approximately 3,050 stores.
TWST: What have been the principal drivers in the company's success?
Ms. Schaefer: We sell value-priced costume jewelry and accessories to a
wide demographic group, primarily females. We like to say that we appeal
to people who are two to 92 because when it comes to fun items that are
well priced and impulse driven, we are the place to go to. In North
America, our stores are found mainly in malls. In Europe, the stores are
both on high streets as well as malls. We see a lot of foot traffic. We
are not a direct destination so much as a place that catches your eye
and you enter to explore, saying 'Let me see what I can find.' That's
what has fueled our growth. We really try to keep our prices low enough
so that when customers enter the stores, they purchase a number of
products rather than just buying one thing.
Tickers included in this excerpt: CLE
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