The large costume jewelry chain Claire’s is for sale. This is according to a report by the Bloomberg agency, according to which the company is considering selling all or part of the business, essentially due to the duties introduced by Donald Trump. Claire’s jewelry is made of materials, from rhinestones to crystals, that are produced outside the United States. For this reason, the increase in import costs due to US duties is putting the company’s accounts in difficulty. Added to this is the tough competition from retailers looking to Amazon.
Claire’s operates over 2,750 stores in 17 countries between North America and Europe, in addition to 190 stores under the Icing brand. Claire’s targets customers aged between 3 and 18, while Icing targets women aged between 18 and 35. In addition, the company has over 300 franchise stores, located mainly in the Middle East and South Africa. Claire’s went through a crisis in 2018, when it was on the verge of bankruptcy. After the bailout, it has had mixed results. Last year, it had revenues of $1.3 billion, of which $720 million came from North America.
