I went shopping at Claire's to see why the jewelry chain is facing bankruptcy and closing stores

Claire's is selling its North American business.Jordan Hart/Business InsiderClaire's was a tween staple when I was younger.The jewelry and trinket retailer filed for Chapter 11 bankruptcy in August.I went to Claire's to see how the '90s mall icon has changed.Time machines haven't been invented yet, but stepping into my local Claire's felt like going back to my childhood.When I was younger, Claire's was a staple for affordable jewelry and flavored lip balms. However, today's teens and tweens seem to be obsessed with beauty and skincare brands found at retailers like Sephora.On Thursday, a Downtown Brooklyn Claire's was running a "Buy 3, Get 2 Free" sale, and I went to check it out.For years, the tween jewelry retailer has struggled to find its footing amid dying mall culture.In August, it filed for Chapter 11 bankruptcy protection for the second time in seven years, citing the "continued trend away from brick and mortar" and higher interest rates. It has since agreed to sell its North American business, including at least 795 stores, to private equity firm Ames Watson in a deal worth $140 million.The retailer also planned to close about 290 US stores, including Claire's and Icing locations, according to an August 25 court filing.Claire's declined to comment on this story.I did a vibe check at Claire's amid the bankruptcy proceedings and sale. It still seems to be going for the teens, tweens, and children, but I'm not so sure they're into it.I was greeted by a Claire's staple with a new twist.Jordan Hart/Business InsiderThe piercing chair is a rite of passage for many tweens. Seeing the hot pink chair and the rest of the setup brought back my own Claire's memory of a piercing gun giving me a second earring hole in high school. I had to have a parent with me since I was only 16.Although there were a few customers — all of them women who looked over 18 — in the store while I was there, no one occupied the sacred chair. Granted, it was the middle of the day on Thursday, so the tweens and teens who are Claire's target demographic were likely all in school.If they did, however, their experience would no longer be limited to ear piercings. There was a sign advertising that Claire's also offers nose piercings.Children's costumes were at the front of the store.Jordan Hart/Business InsiderI found a few racks of fairy, unicorn, and witchy costumes in time for Halloween season. The pink tutus and capes were child-sized, so I skipped over looking through them for a last-minute costume.It reminded me that Claire's is more than a store for high schoolers, like it mainly was when I got my ears pierced. It's also a place for kids — or parents who are feeling nostalgic.I found earrings that look like a dupe for a luxury jewelry brand.Jordan Hart/Business Insider; Van Cleef & ArpelsAs I scanned the sea of purple-packaged Claire's-branded earrings, one burgundy and gold pair caught my attention. The pair I picked up immediately reminded me of the luxury jewelry brand Van Cleef & Arpels.Claire's earrings aren't made from yellow gold, carnelian, or tiger eye stones, however, and they cost $9.99 instead of $7,650. It shows that the retailer is paying attention to current trends and responding.I browsed a few racks of higher-priced jewelry.Jordan Hart/Business InsiderAs an adult with body piercings, I'd say the pricier C Luxe by Claire's jewelry would be more my speed. Jewelry made with sterling silver, gold plating, or titanium can be out of my price range at times. Claire's pricing was fair and affordable. I'd return to the store for these $22.99 flat-back earrings.There were walls of toys, play makeup, and some beauty items.Jordan Hart/Business InsiderSome items were clearly geared toward children. Popular characters like Hello Kitty and Bluey donned backpacks, water bottles, and hats.I was surprised by the limited number of real-deal beauty products. The lip glosses I coveted from Claire's as a child were still there, but they were clearly made for a young audience, like a toy flip-phone with eyeshadow inside.I found more examples of Claire's versions of viral products.Jordan Hart/Business InsiderStanley isn't the only brand that produces tumblers, but it is one of the most recognizable. The Claire's version bore a striking resemblance.At Claire's, the tumblers were around $30, which wasn't far off from the $40 Stanley versions.Claire's target demo for these tumblers might be over them, however. Recent surveys by Piper Sandler suggest Stanley tumblers are "on the way out" with teens.It was the same Claire's I remembered, but with nose piercings.Jordan Hart/Business InsiderAfter spending about 30 minutes in the store, it felt appropriate to find some jewelry that fit my style. The store had a rack dedicated to hoop earrings, which are my favorite. I settled on a pair of simple gold hoops for $5.99.Overall, I found my visit to Claire's to be as expected. It was a store designed for the kids of this era. However, those kids seem to be obsessed with status symbols. Name brands like Stanley and Drunk Elephant, or viral Korean skincare products, are popular among the youth.I don't see how Claire's can compete with that without its own viral product line that stands out from the competition.Read the original article on Business Insider

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