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Charlotte Russe is a well known mall based speciality retailer of affordable, fashionable apparel and accessories. Their main focus is on providing lifestyle trends to girls in their teens and twenties. Since January 2010 Charlotte Russe now has over 500 stores throughout the US and Puerto Rico.
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“Company History
Founded in 1975, the first Charlotte Russe store was opened in Carlsbad, California. Focused on women ranging from their teens to early twenties, the store offered customers access to major fashion trends at value-oriented prices. During the subsequent 20 years, Charlotte Russe grew to become a 35-store chain concentrated in Southern California with annual sales of $70 million. Since that time, the Company has expanded significantly, approaching 500 stores and $900 million in sales at the end of fiscal 2008.
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Charlotte Russe Today
Charlotte Russe is a growing, mall-based specialty retailer of fashionable, value-priced apparel and accessories. We are focused on providing exciting, fashion-forward merchandise that appeals to customers across age and socioeconomic boundaries, with a core emphasis on the lifestyle trends of young women in their teens and twenties. Our stores offer merchandise at value-oriented prices and the majority of our merchandise is sold under our proprietary Charlotte Russe labels, including Charlotte Russe, Refuge and blu Chic. The remainder of our merchandise consists of nationally-recognized brands popular with our customers. As of September 27, 2008, Charlotte Russe operated 487 stores throughout 45 states and Puerto Rico.
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In 2007, our Board of Directors initiated a comprehensive review of strategy and operations and determined -- with the assistance of experienced third-party retail consultants -- that significant changes were necessary to improve operational performance and build greater value for stockholders. Based on this review, our Board moved aggressively to develop a strategic plan aimed at transforming Charlotte Russe into a high-performing, top-tier specialty retailer.
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