Ames Watson Capital
Private equity firm that acquired Claire's Accessories out of bankruptcy in 2018.
Company Type
public
Founded
2018
Headquarters
Hoffman Estates, Illinois, USA
About Ames Watson Capital
Claire's is one of the world's leading specialty retailers of affordable fashion accessories, jewelry, and beauty products for teens, tweens, and young women. The company operates over 2,800 stores and concessions across North America, Europe, and other international markets. Claire's is particularly well known for its ear piercing services, which the company claims have pierced over 100 million ears worldwide.
The company's product assortment includes earrings, necklaces, bracelets, hair accessories, bags, beauty products, and licensed character merchandise. Claire's targets a core demographic of girls and young women aged 3 to 18, with a growing focus on the tween market. The company operates under two primary retail banners: Claire's (targeting teens) and Icing (targeting young adult women).
History of Ames Watson Capital
Claire's was founded in 1961 as a wig store in Chicago, Illinois. The company evolved over the following decades into a fashion accessories retailer, becoming a fixture in shopping malls across the United States and internationally. Claire's became particularly well known for its ear piercing services, which have been a significant driver of foot traffic and customer acquisition.
In 2007, Apollo Global Management acquired Claire's in a leveraged buyout valued at approximately $3.1 billion. The deal loaded the company with approximately $2.5 billion in debt, which proved unsustainable as the retail environment shifted. Claire's struggled with declining mall traffic, competition from fast fashion retailers, and the burden of its debt obligations.
In March 2018, Claire's filed for Chapter 11 bankruptcy protection. The company emerged from bankruptcy in October 2018 under new ownership by its former creditors, primarily Elliott Investment Management and Monarch Alternative Capital. The restructuring eliminated approximately $1.9 billion in debt and provided the company with a stronger financial foundation.
Following its emergence from bankruptcy, Claire's announced preliminary sales growth of 53% for fiscal year 2021, with revenue reaching approximately $1.4 billion. The company filed for an IPO in 2021 but has not yet completed the public listing. Claire's has expanded its retail presence through concession partnerships, operating shop-in-shop locations within major retailers alongside its traditional standalone stores.
Brands Owned by Ames Watson Capital
Ames Watson Capital owns 1 brand in our database.
Ames Watson Capital Ownership: Pros & Cons
Advantages
- +Emerged from bankruptcy with significantly reduced debt burden
- +Strong brand recognition among teen and tween demographics globally
- +Ear piercing services drive consistent foot traffic and customer acquisition
- +Concession partnerships expand retail presence without standalone store costs
- +Revenue recovery with 53% sales growth reported in fiscal year 2021
Considerations
- -History of financial distress including bankruptcy and failed IPO attempts
- -Declining mall traffic continues to challenge traditional retail locations
- -Competition from fast fashion retailers and online accessories sellers
- -Private equity-style ownership may prioritize financial returns over long-term brand investment
- -Delayed IPO creates uncertainty about the company's long-term ownership structure
Frequently Asked Questions About Ames Watson Capital
Who owns Claire's?
Claire's is privately owned by Elliott Investment Management and Monarch Alternative Capital, which took control of the company when it emerged from Chapter 11 bankruptcy in October 2018. The company was previously owned by Apollo Global Management.
Is Claire's publicly traded?
No, Claire's is not currently publicly traded. The company filed for an IPO in 2021 but has not yet completed the public listing. As of early 2026, Claire's remains privately held.
When did Claire's go bankrupt?
Claire's filed for Chapter 11 bankruptcy in March 2018 due to approximately $2.5 billion in debt from a 2007 leveraged buyout by Apollo Global Management. The company emerged from bankruptcy in October 2018 after eliminating approximately $1.9 billion in debt.
How many Claire's stores are there?
Claire's operates over 2,800 stores and concessions worldwide across North America, Europe, and other international markets. The company operates under two retail banners: Claire's and Icing.
What is Claire's known for?
Claire's is best known as a fashion accessories and jewelry retailer targeting teens and tweens, and for its ear piercing services, which the company claims have pierced over 100 million ears worldwide.
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