Claire’s, the mall mainstay known for affordable jewelry and ear piercing, is getting a second chance. Columbia, Maryland-based investment firm Ames Watson has acquired the brand’s brick-and-mortar operations for $140 million, ensuring that the majority of Claire’s stores will remain open, according to CoStar News.
Before filing for Chapter 11 bankruptcy in August, Claire’s operated roughly 1,500 stores across North America. Under the new deal, Ames Watson has already finalized leases for more than 800 stores, with the potential to grow that number to 950, said RCS Real Estate Advisors, which advised on the takeover.
“Claire’s is more than just a retailer — it’s an iconic brand woven into the lives and memories of millions of shoppers,” said Ivan Friedman, RCS president and CEO. “By leveraging deep landlord relationships and win-win agreements, we helped preserve hundreds of stores, protect thousands of jobs, and ensure that future generations can continue to enjoy the Claire’s experience.”
Closures and Challenges
Some closures were unavoidable. Claire’s estate had already marked 18 underperforming stores for shutdown prior to the sale, and last month the company announced it would shutter 700 additional locations, including Walmart shop-in-shops and all Icing stores, Claire’s sister brand targeting older teens.
Without a buyer, liquidation of the full 1,500-store footprint was on the table, Retail Dive reported. But Ames Watson’s acquisition effectively rescued the chain from collapse.
Reinvention Plans
Ames Watson plans to modernize Claire’s with a focus on exclusivity, customization, and cultural relevance. Plans include enhanced piercing services, refreshed merchandise, updated marketing, and reimagined store concepts aimed at offering an experience that can’t be replicated online.
“Claire’s is one of those rare brands that defines a stage of life, with a loyal community and cultural resonance,” said Lawrence Berger, Ames Watson co-founder and partner. “Our focus is on protecting what people love about the brand while modernizing it for the next generation.”
A Brand With Staying Power
Founded in 1961, Claire’s has been a rite of passage for generations of tweens and teens. But like many mall-based retailers, the company has faced headwinds from shifting consumer habits, tariffs, and online competition. This summer’s filing marked its second bankruptcy in less than a decade. In 2018, Claire’s shed nearly $2 billion in debt before creditors Elliott Management and Monarch Alternative Capital assumed control.
For Ames Watson, which invests in consumer-facing brands with revenues from $20 million to $5 billion, Claire’s joins a portfolio that includes Lids and South Moon Under. With fresh capital and new leadership, the once-struggling chain has a chance to reconnect with shoppers while reinventing itself for the digital age.
