Charlotte Russe is a specialty retailer offering exclusive collections of fashionable, value-priced apparel and accessories to women in their teens and twenties.
Based in San Diego, California, Charlotte Russe operates 504 stores in 45 states and Puerto Rico, as well as a burgeoning e-commerce business, employing more than 10,000 employees. Its stores are primarily located in shopping malls and outlets. Charlotte Russe generated $830 million in sales in 2008.
While the company has been consistently profitable, Charlotte Russe has underperformed relative to its competitors in terms of sales per square foot and store profitability. Advent and the management team will work with Advent Operating Partner and new Charlotte Russe President and CEO Jenny Ming to take the business to the next level by improving the Company’s sourcing, merchandising, and brand in the “value trend” segment of fashion retailers.