Dive Brief:
- Claire’s entered into an exclusive licensing agreement with Centric Brands, according to a Monday press release.
- The deal allows Claire’s to expand “into new categories and more than 7,000 additional retail touch points across North America,” per the release. Centric Brands will scale the Claire's brand with retail partners such as Walmart, Kohl's and CVS across the United States and Canada.
- Centric Brands and Claire's plan to develop products across categories, including cosmetics, jewelry and hair accessories. Additionally, they’ll work on expanding into new retailers and categories such as apparel, sleepwear, home and more.
Dive Insight:
Claire’s is expanding beyond its store fleet of 900 locations less than a year after Ames Watson completed its North American acquisition of the tween-focused retailer.
"This partnership marks an important step in Claire’s evolution into a true multi-channel brand platform,” Ames Watson co-founder and Partner Lawrence Berger said in a statement. “By expanding our presence beyond our own stores, we’re able to meet consumers wherever they shop, while continuing to invest in the in-store experiences that define the brand, like ear piercing."
The investment firm in September acquired Claire’s for about $140 million out of bankruptcy — the tween retailer’s second foray into Chapter 11 proceedings. The purchase added Claire’s to a portfolio of brands under Ames Watson that includes controlling investments in South Moon Under, Lids, Fanzz, Ebbets and more.
Claire’s has since modified its store footprint while keeping a focus on malls, hired merchandising and brand chief officers, and debuted a marketing campaign focused on Gen Alpha.
Now, Claire’s joins a long list of companies that work with Centric Brands for licensing, such as Gap, Nautica, Coach, Faherty, Ugg and more.
"We have cherished our long-standing relationship with Claire’s, and we are thrilled to be taking our collaboration to the next level,” Alex Fogelson, executive vice president and division head at Centric Brands, said in a statement. “This partnership will provide more opportunities for consumers to connect with the beloved Claire’s brand across even more retail touchpoints."
