SECAUCUS, N.J., Nov. 9, 2021 /PRNewswire/ -- The Children's Place, Inc. (Nasdaq: PLCE), the largest pure-play children's specialty apparel retailer in North America, announced the launch of Sugar & Jade, a new tween fashion apparel, footwear and accessories brand that celebrates girls' individuality, inspires girls to have fun with fashion and encourages them to "Be Ur True Self".
Jane Elfers, President and CEO said, "The tween apparel market is estimated at approximately $8 billion. Based on our leadership position in the big girls' apparel and accessory space, we are uniquely positioned to retain our tween customer as she transitions from The Children's Place brand to her next style stage. We have over four million customers to whom we are immediately marketing this exciting new brand, and we will deploy an "always on" strategy that drives customer acquisition, while also migrating the current The Children's Place customer to Sugar & Jade at the appropriate moment in their purchase journey."
Sugar & Jade is committed to embracing the unique spirit of every girl by celebrating their distinct personal style. Sugar & Jade can be found exclusively on www.sugarandjade.com with its inaugural product launch of five unique apparel and accessory collections, in sizes ranging from 8 to 22. Sugar & Jade is a digital-only brand and will be the first brand available on The Children's Place, Inc's new Salesforce e-commerce platform. The shopping experience is centered around the customer, leveraging outfitting recommendations and user-behavioral technology that engages and inspires shoppers based on their lifestyle. Sugar & Jade's shopping experience includes a "Free Shipping, Free Returns, Everyday" policy, with no minimum purchase requirement, and launches with a loyalty program that rewards customers for each purchase and provides them with special offers and exclusive access to bonus events.
Staying true to the brand mission of celebrating girls' individuality, part of Sugar & Jade's marketing strategy will focus on empowering girls to "Be Ur True Self" by spotlighting mentors' stories and providing a platform for its tween shoppers, influencers and celebrities to share their own fashion stories. The brand will amplify these stories and voices through its various social channels.
Jennifer Groves, Senior Vice President of Creative Design said, "We consistently receive positive customer feedback on our big girls' assortment. Our customers let us know that The Children's Place has been an important part of their kids' wardrobe, and they wish they could stay with us longer – and now, with the launch of Sugar & Jade, they can! Pairing our deep understanding of our big girl customer with our extensive market research, we are confident that Sugar & Jade will deliver what our tween girl is looking for."
About Sugar & Jade
Sugar & Jade is a brand that encourages girls to "Be Ur True Self." With clothing offered in sizes 8-22, Sugar & Jade aims to empower girls by providing clothing, footwear and accessories that celebrate girls' individuality and inspires girls to have fun with fashion. Sugar & Jade is sold exclusively on www.sugarandjade.com.
About The Children's Place
The Children's Place is the largest pure-play children's specialty apparel retailer in North America. The Company designs, contracts to manufacture, sells at retail and wholesale, and licenses to sell fashionable, high-quality merchandise predominantly at value prices, primarily under the proprietary "The Children's Place", "Place", "Baby Place", "Gymboree" and now "Sugar & Jade" brand names. The Company has online stores at www.childrensplace.com, www.gymboree.com and www.sugarandjade.com and as of July 31, 2021, the Company had 708 stores in the United States, Canada, and Puerto Rico and eight international franchise partners with 208 international points of distribution in 17 countries.
Forward Looking Statements
This press release contains or may contain forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to statements relating to the Company's strategic initiatives and adjusted net income per diluted share. Forward-looking statements typically are identified by use of terms such as "may," "will," "should," "plan," "project," "expect," "anticipate," "estimate" and similar words, although some forward-looking statements are expressed differently. These forward-looking statements are based upon the Company's current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results and performance to differ materially. Some of these risks and uncertainties are described in the Company's filings with the Securities and Exchange Commission, including in the "Risk Factors" section of its annual report on Form 10-K for the fiscal year ended January 30, 2021. Included among the risks and uncertainties that could cause actual results and performance to differ materially are the risk that the Company will be unsuccessful in gauging fashion trends and changing consumer preferences, the risks resulting from the highly competitive nature of the Company's business and its dependence on consumer spending patterns, which may be affected by changes in economic conditions, the risks related to the COVID-19 pandemic, including the impact of the COVID-19 pandemic on our business or the economy in general (including decreased customer traffic, schools adopting remote and hybrid learning models, closures of businesses and other activities causing decreased demand for our products and negative impacts on our customers' spending patterns due to decreased income or actual or perceived wealth, and the impact of the CARES Act and other legislation related to the COVID-19 pandemic, and any changes to the CARES Act or such other legislation), the risk that the Company's strategic initiatives to increase sales and margin are delayed or do not result in anticipated improvements, the risk of delays, interruptions and disruptions in the Company's global supply chain, including resulting from COVID-19 or other disease outbreaks, or foreign sources of supply in less developed countries, more politically unstable countries, or countries where vendors fail to comply with industry standards or ethical business practices, including the use of forced, indentured or child labor, the risk that the cost of raw materials or energy prices will increase beyond current expectations or that the Company is unable to offset cost increases through value engineering or price increases, various types of litigation, including class action litigations brought under consumer protection, employment, and privacy and information security laws and regulations, the imposition of regulations affecting the importation of foreign-produced merchandise, including duties and tariffs, and the uncertainty of weather patterns. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they were made. The Company undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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SOURCE CHILDREN'S PLACE RETAIL STORES, INC.
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