AUS
NZ
UK
CA
USA
IND
Highlights
- Claire’s IPO could get investors’ attention as the IPO frenzy continues across the world.
- Claire's is planning to list its shares on the New York Stock Exchange.
- Claire's is most famous for its low-cost ear-piercing service, and it now plans to expand its business operations by offering nose piercing services.
Claire’s Holdings LLC, the Illinois-based retailer of jewelry, toys and accessories has filed to go public in the US. Claire's revealed the size of the offering in its filing as US$ 100 million, which could change when the terms of the share sale are determined.
The public debut plan comes more than four years after canceling its listing plans. Established in the 1960s, Claire's attracted customers with a coming-of-age story and now wants to invite investors through it.
In the documents filed with the US Securities and Exchange Commission (SEC), the jewelry and accessories retailer claimed it had a massive following among Generation Z, an audience that comprises more than 2.5 billion people globally.
Claire's IPO: Key details
Claire's is planning to list its shares on the New York Stock Exchange and the leading underwriters for the public debut would be Morgan Stanley, Citigroup Inc., and Goldman Sachs. The American retailer has listed Monarch Alternative Capital, Goldman Sachs, JPMorgan Chase & Co., and Elliott International as its major shareholders.
In North America, Claire's owns more than 1,500 stores and in Europe, the figure is at 880. In addition, the jewelry retailer sells its products in more than 10,000 retail concessions globally and has at least 25 retail partners.
Also Read: Olaplex IPO: Hair products maker raises stock price range, is it a buy?
Claire's is most famous for its low-cost ear-piercing service, and it now plans to expand its business operations by offering nose piercing services. The company currently offers this service only in Canada, Germany, and the United Kingdom.
© 2021 Kalkine Media Inc.
For the three months ended July 31, Claire's revenues were US$ 356 million, up from US$ 184 million in the same comparable period of last year. Meanwhile, the net loss increased to US$ 144 million from US$ 38 million in the same period.
Also Read: Portillo's IPO: How to buy the iconic restaurant chain’s stock?
Those interested in the company's stock will either have to wait for Claire's to list its shares in the stock market or wait for brokerage companies and stockbrokers to offer the pre-IPO shares. Interested retail investors have an option of getting pre-IPO shares, generally allotted through a lottery basis.
Bottom line
Claire's has faced tough online competition as people have changed their shopping habits due to the rise of e-commerce platforms. The American retailer has a heavy shopping mall presence, and it could use the money raised from gross proceeds to expand its presence online.
