Claire's: president of European affiliate becomes worldwide CEO

By

Anaïs Lerévérend

Published
Apr 8, 2014

Following a complicated fiscal year, Claire’s is changing its CEO. The retailer, specialized in accessories, announced the resignation of James D. Fielding after two years as CEO. The board of directors has already found his replacement in the person of Béatrice Lafon who has headed the American group’s European affiliate since 2011. The change took effect on April 2nd.

The British woman was not only chosen for her 30 years of experience in retail (notably with Marks & Spencer, River Island or TJ Hughes), but also for her proven abilities at turning around companies in difficulty. With her new functions, she intends to “accentuate value by leveraging best practices.”

At the same time, Claire’s published its annual report. The fiscal year 2013, which ended on February 1st, revealed lowering figures. Worldwide turnover reached 1.5 billion dollars, or 1.1 billion euros, a decrease of almost 3%. Moreover, the retailer recorded losses as high as 47.5 million euros. Béatrice Lafon will have to prove once more that she can turn these figures around, orienting them towards positive development.

At the end of 2013, Claire’s possessed a network of 3,118 directly-operated shops in 18 countries (in Europe, in the US and in China), as well as 416 franchises in the Middle East, Central and South America, not to mention Central and Southern Asia.