Iconic high street chain Claire's Accessories is making a comeback next month after closing all its stores, with plans to reopen dozens of locations across Britain. The new owner, French entrepreneur Julien Jarjoura, is reportedly in talks with landlords to reopen up to 10 shops a week from June.
Rescue After Administration
More than 1,000 people lost their jobs when the jewellery and accessories chain closed all 154 stores in April, three months after entering administration. However, the brand's fortunes appear revived by Jarjoura, who is currently signing leases to reopen Claire's stores from next month.
Speaking to The Guardian, Jarjoura, who is behind jewellery company Une Ligne, said: 'The brand was basically dead and we're bringing it back to life.' His plans have reportedly been given the go-ahead by Claire's US owners, Ames Watson.
Mr Jarjoura added: 'A lot of people think Claire's is a British brand. It is extremely famous in the UK and there is no way it is going away.'
New Strategy and Investment
Mr Jarjoura first tried to buy Claire's when it fell into administration in January. He aims to reopen four to 10 stores a week from June. The chain's approach will focus on investing in the brand to attract new customers while moving away from overpriced products and heavy discounting.
Plans include revamping the brand, continuing ear-piercing services, and introducing new jewellery and accessories ranging from £1.90 to more than £100. 'There will definitely be some brand repositioning,' he said. 'We are not a discount store but we like to sell stuff at a fair price.'
The payoff for this investment is expected to take three to five years, as he acknowledged that the chain's collapse had damaged the brand. However, this incarnation is debt-free and funded by Mr Jarjoura. 'We need to invest in the business,' he said. 'We are not unrealistic in terms of getting benefits from this company for three to five years.'
He also dismissed concerns about the UK's business rates and employment costs. 'Nothing is easy but you can't always be blaming someone else for your own faults,' he said.
European Experience and Future Plans
Jarjoura already runs about 240 Claire's stores across Europe and hired some of its former UK executives ahead of the mooted relaunch. He is expected to keep open some of its 356 concessions but has not taken on the previous head office in Birmingham or bought old stock from administrators Kroll.
Metro has approached Une Ligne for comment.
