Claire’s Stores, Inc is one of the world’s leading specialty retailers of fashionable jewelry and accessories for young women, teens, tweens and kids. Our vision is to inspire girls and women around the world to become their best selves by providing products and experiences that empower them to express their own unique individual styles. Our broad and dynamic selection of merchandise is unique, and over 90% of our products are proprietary. Claire’s ® is our primary global brand that we operate in 44 countries through company-owned or franchise stores. Claire’s ® offers a differentiated and fun store experience with a “treasure hunt” setting that encourages our customer to visit often to explore and find merchandise that appeals to her. We believe by maintaining a highly relevant merchandise assortment and offering a compelling value proposition, Claire’s ® has universal appeal to teens, pre-teens and kids. Icing ® is our other brand which we currently operate in North America through company-owned stores. Icing ® offers an inspiring merchandise assortment of fashionable products that helps a young woman to say something about herself, whatever the occasion. We believe Icing ® provides us with significant potential to reach young women in age groups beyond our Claire’s ® core demographic. As of May 3, 2014, Claire’s Stores, Inc. operated 3,071 stores in 18 countries throughout North America, Europe, and China. The Company also franchised 426 stores in 29 countries primarily located in the Middle East, Central and Southeast Asia and Central and South America.
We believe Claire’s® represents a “Girl’s Best Friend” and a favorite shopping destination for teens, tweens, and kids. Claire’s ® target customer is a girl between 3-18 years old with a particular focus on a core demographic of girls between 10-14 years old. According to our estimates, we have over 95% brand awareness within this target demographic in our largest markets. As of November 2, 2013, Claire’s ® had a presence in 44 countries through the 2,720 company operated Claire’s ® stores in North America, Europe and China, and 414 franchised stores in numerous other geographies.Our Icing® brand targets a young woman in the 18-35 year age group with a focus on our core 21-25 year olds who have recently entered the workforce. This customer is independent, fashion-conscious, and has enhanced spending ability. We believe that expansion of our Icing(delete space here)® store base both in existing and new markets over time presents a significant opportunity to leverage our core merchandising, sourcing and marketing expertise to cater to a wider demographic. As of November 2, 2013, we operated 398 Icing ® stores across the United States, Canada, and Puerto Rico.