Ames Watson Acquires Claire's for $140M, Plans to Revive Brand
Ames Watson, the retail conglomerate behind brands like Lids and South Moon Under, has acquired Claire's North American business for $140 million. The deal, finalised in 2022, aims to replicate the success Ames Watson had with Lids, which it acquired in 2019. Claire's, the accessories retailer, had filed for Chapter 11 bankruptcy in August 2022, marking its second bankruptcy in four years.
Initially, Claire's was considering liquidating its entire 1,500-store North American footprint. However, Ames Watson's acquisition will see at least 800 stores remain open, with the potential to reach 950. The firm plans to preserve Claire's heritage while positioning it for growth. This strategy involves focusing on exclusivity, customization, and cultural relevance, setting it apart from competitors like Studs, which plans to open another 10 locations in 2025.
Claire's cited several challenges leading to its bankruptcy, including interest rate hikes, inflation, tariffs, and intense competition. Despite these obstacles, Ames Watson remains optimistic about Claire's future, adding it to its retail portfolio that already includes brands like Ebbets.
With the acquisition of Claire's, Ames Watson's retail portfolio continues to expand. The firm aims to breathe new life into the struggling brand, preserving its heritage while positioning it for growth in the competitive retail landscape.
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