Charlotte Russe (retailer)
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Charlotte Russe Inc. is an American clothing retail chain store that operates in the United States, headquartered in Toronto, Canada. Fashions in the stores are targeted at women in their teens and twenties.[1] As of September 2023, Charlotte Russe operates 196 stores, mostly in malls and shopping centers.[2][3]
History
Charlotte Russe was founded in 1975 by Daniel Lawrence and his two brothers, all of whom 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.
The company was acquired in 1996 by the investment firm 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.[4][5][6]
In 2019, Charlotte Russe was acquired by the Toronto-based retailer YM Inc., according to a press release.[7] Under YM Inc. Charlotte Russe has expanded its retail footprint and caters primarily to the Generation Z demographic.[8]
On November 22, 2019, there were 183 stores with additional planned.[8]
Important dates
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- 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 its first retail outlet.
- 1996: Investment firm SKM buys Charlotte Russe.
- 1997: Company buys Rampage, with 15 stores nationwide.
- 1999: Charlotte Russe Holding goes public.
- 2019: Charlotte Russe filed for Chapter 11 bankruptcy
- 2019: Charlotte Russe is purchased by YM Inc
References
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External links
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- Bankruptcy website
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- Pages with script errors
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- Clothing brands of the United States
- Clothing retailers of the United States
- Companies based in San Diego
- Companies that filed for Chapter 11 bankruptcy in 2019
- Retail companies established in 1975
- 1975 establishments in California
- American companies established in 1975
- Clothing companies established in 1975