09 December 2012

Claire’s opens two stores in Shanghai, China; establishes new division in Shanghai

- Expands global reach to 39 countries 

Chicago - 05 December 2012 - Claire's Stores Inc., one of the world's leading specialtyretailers of fashionable jewelry and accessories at affordable prices for young women, teens, tweens, and kids, announced the recent opening of the first Claire's stores in China. The first China store opened today, December 5th, and is located in DaNing Life Hub in Shanghai. The second China store will open on December7, 2012 in Grand Gateway Mall in Shanghai. The Company has entered China on an owned and operated basis and has established a new division based in Shanghai. The Company believes China represents a significant market opportunity for the Claire’s brand. 

Chief Executive Officer Jim Fielding stated, "We are extremely excited to announce the opening of our first two China stores, and the establishment of our new China division in Shanghai. This opening extends our global reach to 39 countries. 

The China market opportunity is very large within our industry and we have put together an exceptional local management team led by our China Managing Director, Catherine Kang, to fully develop this very important, unique market. 

We have spent more than two years preparing for this market entry, and believe we are bringing the best of our Claire’s brand to China. These first stores are possible because of the tremendous effort and support of our global divisions, as well as the strong partnership we have received from our local partners in China. We are looking forward to building a long-term, successful business in China with their support.” 

Claire’s Stores, Inc. is one of the world’s leading specialty retailers of fashionable jewelry and accessories at affordable prices for young women, teens, tweens and girls ages 3 to 27. The Company operates through its two store concepts: Claire’s® and Icing®. As of October 27, 2012, Claire’s Stores, Inc. operated 3,088 stores in North America and Europe. The Company also franchised or licensed 381 stores in Japan, the Middle East, Turkey, Greece, Guatemala, Malta, Ukraine, Mexico, India, Dominican Republic, El Salvador, Venezuela, and Panama. 

Source: Claire’s Stores, Inc.