Spanish Steps

Claire’s Stores Inc. (Pembroke Pines, Fla.) has opened its first stores in Spain and entered into its first leases in Holland.

This is part of a broader initiative to expand the Claire’s brand to additional countries in Europe. The specialty retailer reported earlier this year that during fiscal 2006, it intended to open stores in two to three new European countries. The company currently operates stores in the United Kingdom and Ireland, France, Switzerland, Austria and Germany, in addition to its more than 2000 units in North America.

Its previous European efforts were through the acquisition of 53 stores throughout Switzerland, Austria and Germany. The store openings in Spain mark the first time the company has commenced operations in a country through organic growth.

The Spanish stores are in Madrid and Barcelona. The company said the average square footage is comparable to that in its other European locations. Each of the stores in Spain will be supplied from the company’s Austrian warehouse and, like its other stores in Europe, will carry approximately 7500 SKUs. Lease negotiations are currently underway for additional stores to be opened in Spain in the latter half of this fiscal year or 2007. Three leases have also been signed for stores in Holland, with opening dates planned for later this year. The three stores are located in the Dutch cities of Amsterdam, Leiden and Nijmegen.

“We are tremendously excited about our entrance into Spain,” said Bonnie Schaefer, co-chairman and co-ceo. “It is a dynamic country with a demographic that we believe will be extremely receptive to our stores. We have had a presence abroad for almost a decade and in that time we have found that the Claire’s brand translates beautifully across borders. Tweens and teens around the world are interested in costume jewelry and accessories that let them express their individual personalities, and our enormous selection at affordable prices makes that possible. Future store opening plans for Spain and Holland are still in development, and we will provide additional details over the coming months.”