Charlotte Russe (clothing retailer)

Charlotte Russe, Inc.
Private
Industry Retail
Founded 1975
Founder Charlotte Russe
Headquarters California, U.S.[1]
Number of locations
 558[2]
Key people
 Jenny Ming (President & CEO)
Products Clothing, footwear, and accessories for women
Owner Advent International
Number of employees
 2,271[3]
Website www.charlotterusse.com
Charlotte Russe
Charlotte Russe

Charlotte Russe is a clothing retail chain store in the United States, headquartered in San Francisco, California.[1] Fashions in the stores are targeted at women in their teens and twenties. The company owns and operates stores in 45 states,.[4] It can be found in many malls/shopping centers.[5] As of June 2014, Charlotte Russe operates 560 stores.[1]

History

Charlotte Russe was founded in 1975 by Daniel Lawrence and his two brothers, all who worked in their family's Brooklyn, New York clothing business. Lawrence and his siblings formed Lawrence Merchandising Corp. in Carlsbad, California. With the first Charlotte Russe storefront in San Diego, California, other locations were established throughout the 1970s and early 1980s.

In the 1990s, the style of clothing Charlotte Russe carried changed to better adapt to original customers and young women. The company saw a revenue of $50 million in 1991.[6]

The company was acquired in 1996 by the investment firm of SKM (Saunders Karp & Megrue). The new owners had expansion plans for Charlotte Russe - evolving it into a national chain of shopping mall stores. SKM took Charlotte Russe public in 1999 until Advent International acquired it in 2009. As President and CEO, Jenny Ming led Charlotte Russe into a private holding once again.[7][8]

Important dates

  • 1975: Lawrence brothers open first Charlotte Russe store, in Carlsbad, California.
  • 1990: Charlotte Russe moves into Arizona.
  • 1992: Company expands into Nevada.
  • 1994: Clothing manufacturer Rampage Clothing Co. opens first retail outlet.
  • 1996: Investment firm SKM buys Charlotte Russe.
  • 1997: Company buys Rampage, with 15 stores nationwide.
  • 1999: Charlotte Russe Holding goes public.

[6]

Community

They have raised over $2.2 million for cancer research.[9]

More info

Charlotte Russe typically serves the same audience and competes with Forever 21, H&M and Rue21, who sell similar clothes.

This store sells jeans from sizes 00 to 16 and has a new clothing line for plus sizes extending to 3x in select stores. Charlotte Russe currently has stores open in 46 states across the U.S.[10]

References

  1. 1 2 3 "About: Charlotte Russe". Retrieved 1 October 2014.
  2. ↑ "Charlotte Russe: Store Locator". charlotterusse.com. Retrieved 25 June 2018.
  3. ↑ "Charlotte Russe Holding, Inc.: Private Company Information - Bloomberg". Bloomberg.com. Retrieved 25 June 2018.
  4. ↑ "Store Locator: Charlotte Russe". Retrieved 1 October 2014.
  5. ↑ "Stock:Charlotte Russe Holding (CHIC)". Retrieved 1 October 2014.
  6. 1 2 "History of Charlotte Russe Holding, Inc. – FundingUniverse". Retrieved 1 October 2014.
  7. ↑ "Clothing Firm Charlotte Russe Will Try an IPO On for Size". Los Angeles Times. Retrieved 1 October 2014.
  8. ↑ "Advent to Acquire Charlotte Russe". Retrieved 1 October 2014.
  9. ↑ "Charlotte Russe". Retrieved 1 October 2014.
  10. ↑ "stores like Charlotte Russe". Archived from the original on 2012-05-31. Retrieved 2012-03-22.
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