Global jewellery retailer follows China debut with new two Euro stores
The jewellery and accessories giant, Claire’s Stores Inc, has expanded its global reach in Europe with new stores in Italy and Luxembourg.
Claire’s reported net sales of US$363.4 million (£225.5m) for the third quarter in 2012, up 2.1% on the previous year, which was attributed in part to sales at new stores.
The chain, which was founded in the US in 1973, now has stores in 40 countries. Claire’s is in 95% of American shopping malls and the company has pierced more ears than any other company in the states.
With 3,088 stores in the United States, and 350 franchises worldwide, Claire’s operates in nearly every corner of the globe from the Middle East to Japan. The company targets the youth market with trendy accessories and jewellery.
Earlier this month, the company opened its first franchise in China. The expansion into the Chinese market is a significant one and the company believes it represents a significant market opportunity for the brand.
"The China market opportunity is very large within our industry,” Claire’s Jim Fielding said in a statement earlier this month. “We have spent more than two years preparing for this market entry, and believe we are bringing the best of our Claire’s brand to China.”
Claire’s has entered China on an owned and operated basis and has established a new division based in Shanghai. “These first stores are possible because of the tremendous effort and support of ourglobal divisions, as well as the strong partnership we have received from our local partners in China," said Fielding. "We are looking forward to building a long-term, successful business in China with their support,”