Ames Watson acquires North America business of embattled retailer Claire’s

Ames Watson announced on Friday the acquisition of Claire’s North America business for $140 million, with the privately held investment firm looking to revitalize the embattled U.S. retailer.

The Columbia-based firm said it is “committed to preserving Claire’s heritage while positioning the company for sustained growth,” and “will focus on exclusivity, customization, and cultural relevance,” according to a press release.

“Claire’s is one of those rare brands that defines a stage of life – old enough to buy your first lip gloss, but still young enough to believe it could change your world,” said Lawrence Berger, partner and co-founder at Ames Watson, which acquired Lids in 2019, before growing it into a billion-dollar business.

“The passion for this brand has been overwhelming, and we’re eager to include the community as we move forward.”

Founded in 1974, Claire’s is a youth-focused retailer focused on fashion accessories, jewelry, cosmetics, and related items.

In early August, the Chicago-headquartered retailer filed for its second Chapter 11 bankruptcy, months after President Donald Trump’s tariff plans created uncertainty for how the retailer’s global supply chain would be affected.

At the time of reporting, Claire’s listed liabilities and assets of $1 billion to $10 billion each in its Chapter 11 petition. 

“Every turnaround we’ve done begins with people,” said Tom Ripley, partner and co-founder at Ames Watson, whose investment portfolio includes Champion, South Moon Under, Mitchell & Ness, Ebbets Field, Zygo, Hungry, and Margaux.

“Claire’s has an incredibly passionate field team – many with 20 years or more in these stores – and their loyalty will be the foundation of this next chapter.”