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Just three years ago, Claire’s was making a comeback. Gen Z and Gen Alpha seemed to be falling in love with the retailer, just like their parents had. After a 2018 bankruptcy, Claire’s underwent a strategic restructuring that eliminated nearly $2 billion in debt and appeared to be headed toward a turnaround. It hired top talent like Kristin Patrick, former executive at Gap and Calvin Klein, who became CMO. And it opened “store within a store” concepts at Walmart and CVS. Back then, the company said it was headed toward an initial public offering that could raise up to $100 million. But this was all a mirage. Behind the scenes, Claire’s was a financial mess. It was still carrying $500 million in debt and had a bloated retail footprint of roughly 3,000 stores at a time when consumers were increasingly shopping online. “Claire’s did not seem equipped to execute on its business plan,” says Jonathan Shenson, a bankruptcy expert at Greenberg Glusker law firm. All of this meant the company couldn’t focus on innovating on its products or stores. And it showed. Walk through a Claire’s store today, and you’ll likely find it untidy and disorganized. The store fixtures are stuffed with generic products similar to those sold by Walmart and Shein. And yet, despite offering this terrible shopping experience, Claire’s still managed to generate $1.3 billion in global sales in 2024, roughly $720 million of it in North America. (Claire’s declined to comment on this story.) In early August, Claire’s filed for bankruptcy for a second time. But now it seems like it has one more chance to become the brand that today’s tweens deserve. On August 20, it announced that the private equity firm Ames Watson had acquired it for $104 million. The big question is whether this new owner can figure out how to make Claire’s solvent and, perhaps more importantly, how to evolve the tastes and shopping behaviors of today’s shoppers. Already Claire’s is trimming its store list and shuttering nearly 300 locations. “It’s not surprising that Claire’s filed for bankruptcy again, but what is surprising is that there might actually be a happy ending here, where something viable emerges,” Shenson says. Squandering Decades of Goodwill The decline of Claire’s is heartbreaking for many millennials, who think of the brand with nostalgia. Claire’s was founded in the early 1970s; by the ’90s it had become the go-to mall brand for tweens. It cleverly marketed itself as a destination for ear piercing, an important rite of passage. And it sold walls of jewelry that were so cheap, your pocket money could go far. In many ways, it was a precursor to fast fashion. One of Claire’s fatal mistakes was not evolving when mall culture faded away, says Susan Scafidi, academic director of the Fashion Law Institute at Fordham University. “Shopping at Claire’s was something you would do with your friends, or as part of another shopping trip with your mom,” she says. “But if you’re doing your back-to-school shopping online, you’re probably no longer stopping for a soda at the mall food court and treating yourself to fashion jewelry at Claire’s.” Today consumers still enjoy shopping in brick-and-mortar stores, but theyre gravitating toward luxury malls, new open-air shopping centers, and urban shopping streets. Placer.AI, a data tracking company, says foot traffic to shopping centers has been up in the first half of 2025. [Photo: Michelle Mengsu Chang/Toronto Star/Getty Images] However, this hasn’t been true across the board. Lower-end malls that haven’t been renovated are declining. And yet Claire’s has a gargantuan 3,000-store footprint, which means its stores blanket the entire retail landscape in the U.S. (For comparison, Gap has only 380 stores, and Target has 2,000.) “Claire’s model was kind of like Starbucks, with one at every corner,” says Shenson. But he points out that more than half of the locations were not profitable. The Claire’s in-store experience hasn’t changed considerably over the decades. The stores I’ve visited around Boston are sometimes dusty and dirty. Shelves and wall fixtures are messy, exploding with rows of cheap jewelry and tchotchkes. Meanwhile, today’s consumers are looking for a more elevated, curated experience. Consider how Claire’s stacks up against its upstart competitors, like piercing brands Lovisa, Studs, and Rowan, which have small-format stores with sleek, modern fixtures, a smaller selection of hero products, and a strong e-commerce presence. These brands are all venture-backed and fast-growing. Lovisa, founded in Australia, is profitable. Then there’s the product itself. In the era of fast fashion, Claire’s has many other competitors that make cheap, trendy fashion accessories, like H&M and Shein. Claire’s hasn’t done much to stand out by offering pieces that are better designed or made from better materials. “They need to figure out what is cutting edge in the market,” Scafidi says. And now the chain is being slammed with tariffs. The vast majority of Claire’s products are made in Asian factories, particularly in China, where U.S. tariff rates are highest. “Given all of these headwinds, Claire’s is lucky to have found a buyer at all,” Scafidi says. What a Successful Turnaround Would Look Like Claire’s is lucky indeed to be acquired by Ames Watson, which has more than $2 billion in revenue. The company has experience with consumer brands. It owns the hats brand Lids and Champion Teamwear, which means its versed in both running retail outlets and managing global supply chains. “What’s exciting about this acquisition is that Ames Watson doesn’t seem like it is just interested in squeezing out whatever equity is left in Claire’s, but it could be interested in how it can revitalize and reinvigorate,” Scafidi says. Ames Watson’s first move will be to shrink the chains massive footprint. In its court filing, it announced it would shutter 290 Claire’s stores immediately, with more closures likely to come soon. This is a crucial step toward reducing the brand’s costs. Shenson believes that Claire’s could soon look very different. “Ames is going to cherry-pick the good leases and reject the ones that are not viable,” Shenson predicts. “This would essentially create a new enterprise that is leaner and meaner. This means thousands of jobs will be kept.” That said, Shenson points out that part of the bankruptcy is that Claire’s unsecured creditors aren’t going to be paid for the products they’ve produced. This means many low-wage factories in Asia will be put in a very difficult position. “There are some vendors that are going to agree to keep working with Ames, and they may be better positioned to get some sort of remuneration,” Shenson says. “But a lot of vendors are going to be left high and dry.” Still, this new deal means that Claire’s has a future. Ames Watson could think creatively about how to evolve the brand into the 21st century. This might mean setting up pop-up ear piercing shops in popular venues, or combining Claire’s and Lids into single stores. Or perhaps shifting to become a largely online business. “The brand itself is the most valuable asset here,” says Shenson. “There are so many ways to reimagine such a beloved brand.”
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E-Commerce
Most leadership advice focuses on how to get promoted. But what happens after? Years ago, I moved from a role leading training and development in a large regional bank to a new position in product marketing. I had the luxury of staying in the organization, which gave me time to mentor my replacement. Carrie, my replacement, wanted the job and was fully qualified but filled with doubt. In our transition meetings, she admitted to me: I dont know if I can lead the training team like you. I only know this one area of training. The team loves you. Ill never be able to lead like that. A 2021 report by DDI reveals that 35% of internally promoted executives are considered failures. This failure rate escalates to 47% for executives hired externally. These numbers reflect the critical need for effective support during leadership transitions. If this sounds familiar, heres how leaders can coach someone up to replace them. COACH THEIR MINDSET AND NOT JUST THEIR SKILL SET When we hand off a role, we often default to knowledge transfer. We overemphasize tools, systems, and processes. But that is not where most leaders struggle. The deeper fear for most new leaders is internal: Will I ever be as good as you? Carrie kept comparing herself to me: My years of training experience, my understanding of facilitation, and my established role as the go-to expert. I had to give her permission to be different. In fact, she brought strengths I didnt: deeper business knowledge, stronger relationships across departments, and a leadership style that had already made her one of the most respected managers in the company. Helping her identify and leverage these strengths was far more important than teaching her how to plan a training calendar. During your transition period, try asking your successor questions like: What parts of this role feel most intimidating? and What strengths do you already have that could serve you here? Offer specific examples, where possible, of where their strengths or approach may provide different value to yours. IDENTIFY AND COACH TRANSFERABLE SKILLS When leaders overlook this step, they can unintentionally make successors feel like they are starting from scratch. Carrie didnt need training expertise on day one. She could learn that. What she needed was permission to lead in a way that reflected her own strengths. We spent time identifying her transferable skills, such as how she built trust, how she developed teams, how she navigated difficult personalities, and how to apply them to this new context. We explored how these new skills would show up in this context. To put this into practice, you can create a two-column chart with your successor. On one side, ask them to write down core demands of the role. On the other side, they can share examples from their previous roles that demonstrate those skills in action. PROVIDE EXPERTISE WITHOUT TAKING OVER When Carrie had to create a brand-new systems training, she immediately looked to me for answers. Instead of jumping in, I asked, When have you had to learn something new in the past? I encouraged her to reflect on her experience and based on her expertise, how she would design it to make it better. She didnt need me to give her the answers. She needed space to figure it out, with just enough support to build confidence. You should approach these moments like a coach, not a fixer. Ask for permission before offering feedback: Are you open to an observation? If your successor asks you to take over, get curious instead: What specifically feels uncomfortable? Is it a task or a relationship dynamic? COACH ON PEOPLE AND POLITICS (NOT JUST PROCESSES) While leadership is relational, most handovers solely focus on the workflows of systems. Instead of just handing over a road map, I asked my replacement to create an Influence Map: listing key colleagues across the organization shed need to partner with to succeed. We categorized each one: green for supporters, yellow for neutral or unknown relationships, and red for conflict or resistance. Influence doesnt come from pushing harder; it comes from navigating relationships with intention. If you choose to help your successor build a similar stakeholder map, try asking them questions like: Who can you build trust with? Who might you be avoiding? What past tensions need clearing? LET THEM JUMP IN BEFORE YOU STEP OUT Dont wait until your last day to start handing things over. During our three-week transition, I began redirecting tasks to Carrie right away. When deciding what to delegate, I had to ask myself, Do I still need to do this? Or is this a great opportunity for a handoff? The stakes were low and small mistakes were part of the learning. If the stakes are higher, you can still delegate, just partner differently. Let them shadow you, walk through your decision-making, or connect them with someone who can support them after youre gone. The earlier they step in, the more confident theyll be when you step out. To put this into action, ask yourself daily: What is one thing I can hand off today that builds their visibility or confidence? The earlier they practice, the more naturally they will lead after you are gone. Helping someone step into your old role requires letting go of control, nurturing a different style of leadership, and prioritizing long-term impact. Ultimately, the best leaders are not just good at their job; they are also good at ensuring that others are equipped to do it too.
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E-Commerce
If you visit your local librarys Instagram page, chances are good that youll find book drive announcements, event notices, and calls for volunteerslikely formatted akin to a pamphlet youd find at the front desk. When residents of Milwaukee check out their librarys social media accounts, it’s a different story. Theyre met with memes, thirst traps, and a multipart cinematic video series parodying the oeuvre of Wes Anderson. For the past three years, Milwaukee Public Library (MPL) has been diverging from the typically staid online presence of most public libraries by going full-send on TikTok trends and video-first content geared toward a younger generation. The librarys accounts look more like the social media-savvy pages of companies like Duolingo or Sour Patch Kidsand its working. [Screenshot: Milwaukee Public Library TikTok] MPLs current Instagram follower count is nearly 240,000an 1,497.5% increase since it began rolling out quirky videos in 2022. And, since starting on TikTok the same year, the library now has 150,000 followers on that platform. Its pretty obvious why a for-profit company like Duolingo might make social media engagement a priority, when it can directly drive product visibility and sales. But for an institution funded by taxpayer dollars, the goal of going viral on TikTok is a bit less clear. According to Melissa Howard, MPLs communications and community engagement director, embracing a TikTok-forward strategy has actually driven the librarys mission in a number of ways, including by opening the door to new community partnerships, boosting database use, and getting younger readers back into the library stacks. @milwaukeepubliclibrary When you’re around I got arrhythmia (literally). I’m on multiple medications for it. #Girlfriend #HemlockeSprings #OldPeople #Elderly #Manga #Comics #Anime #fyp #FlippingOff #Birdie #MiddleFinger #FlipTheBird girlfriend – hemlocke springs Is this my public library or a meme page? In the summer of 2022, MPL was struggling with a dip in patronage that started during the pandemic. Fawn Siemsen-Fuchs, the librarys volunteer coordinator, decided to test the waters with more experimental social content to draw in young readers from communities like BookTok and Bookstagram. MPLs first TikTok videoa parody centering around returning a book to the book droptook off almost immediately, notching over 3 million views and 500,000 likes. We were one of the first libraries to get on Tiktok, have some fun with video content, and not have that more commercial tone, Siemsen-Fuchs says. View this post on Instagram A post shared by Milwaukee Public Library (@milwaukeepubliclibrary) Since then, MPL has experimented with a broad range of social video under the umbrella of what Siemsen-Fuchs describes as its personal brand of unhinged, heartwarming content. That includes a sensual thirst trap to promote the librarys blood pressure machines; a video featuring a 90-year-old patron reading manga (with more than 3 million views across platforms); and, most recently, a five-part series inspired by Wes Andersons portfolio. View this post on Instagram A post shared by Milwaukee Public Library (@milwaukeepubliclibrary) This last project incorporates layers of lore, carefully thought-out artistic direction, and a cast of characters pulled from the librarys staff. Siemsen-Fuchs says its inspired many followers to become personally invested in the storyline. People are like, Oh, my favorite show is on, or theyre sending popcorn gifs, she says. I would say, in general, our viewership is just so kind and so supportive, and they love the library. @milwaukeepubliclibrary Try one or try them all #AEHolidayCard #LetsGo #IntuitTouchdownDance #LibraryTok #LibraryToks #LibraryTikTok #LibrariesForAll #LibrariesRock #BeautifulLibraries #BlackFriday #BlackFridayDeals #fyp #fyp – ‘this is how u get the youth to read’ MPL certainly isnt the only library thats dipped its toes into the TikTok universe: Columbus, Ohios Columbus Metropolitan Library runs its own Law & Order-inspired series on TikTok, and Australias City of Marion Libraries page stars Denise, an employee who has become a fan-favorite character. Still, its not exactly commonplace to see libraries leaning into internet humor so wholeheartedly. Its been our observation that many public institutions do face hurdles when it comes to building a social presence that resonates, whether its from risk-averse cultures, siloed teams that make it hard to tell a unified story, or simply not having enough staff to keep up with the pace of digital media, Howard says. Weve been able to break through by trusting our small, creative team to experiment, take smart risks, quickly jump on trends, and develop a clear vision and voice to connect with people who love the library as much as we do. And while MPL doesnt exactly have sales data to demonstrate the impact of its social accounts, Howard says there are a number of ways that the librarys online presence has boosted its goals. Several videos have correlated with spikes in database use, Hoopla checkouts (a digital book catalog), job applications, and merch sales. In fact, one reel promoting the librarys T-shirts led to its highest merch sale month ever, an 180% increase over the previous month. @milwaukeepubliclibrary #fyp #bookdrop original sound – Freddychase The accounts have also led to new partnerships and civic collaborations, including work with tourism boards, other libraries like the New York Public Library, local bookstores, magazines, and the mayor of Milwaukee. The social media team even earned a Peabody nomination in 2024 for promoting stories that matter. And, while Howard says readership has not yet returned to its pre-pandemic highs, it has increased in the last couple of yearsa change that she attributes, at least in part, to the social media accounts’ success. MPLs social media presence shows that theres plenty of opportunity for public institutions to carve out their own dedicated niches online. For those with the added benefit of baked-in goodwill, like the public library, its a move that makes even more sense. The overwhelmingly wholesome comments on MPLs pages are a case in point: Considering moving to Milwaukee for the library, one Instagram user wrote. Another added, this is how u get the youth to read.”
Category:
E-Commerce
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