History of The Children's Place in Timeline
The Children's Place is a children's clothing retailer that sells products under its own brands, including The Children's Place, Gymboree, Sugar & Jade, PJ Place, and Crazy 8. The company operates approximately 525 stores across the U.S., Canada, and Puerto Rico. Additionally, they sell their products online through two websites and through five international franchise partners spanning 15 countries. Their product offerings include a variety of children's apparel and accessories like tops, skirts, dresses, jackets, shoes, bottoms, sleepwear, and backpacks. The Children's Place headquarters are located in Secaucus, New Jersey.
1969: The Children's Place Founded
The Children's Place was founded in 1969.
1981: Acquisition by Federated Department Stores
In 1981, The Children's Place was acquired by Federated Department Stores.
1988: Sale to Joseph Sitt-led Group
Following Campeau Corporation's acquisition of Federated, The Children's Place was sold to a group led by Joseph Sitt in 1988.
1997: Public Listing on NASDAQ
In 1997, The Children's Place became publicly traded on the NASDAQ exchange under the ticker symbol PLCE.
2001: World Trade Center Store Destruction
The Children's Place location in the World Trade Center mall was destroyed during the September 11 attacks in 2001.
2004: Acquisition of Disney Stores
Between 2004 and 2007, The Children's Place owned and operated 335 Disney Stores through its subsidiary Hoop Holdings/Hoop Retail Stores LLC.
October 2006: End of Royalty Holiday for Disney Stores
The "royalty holiday" period for The Children's Place's operation of Disney Stores ended in October 2006, initiating a 5% royalty on store sales and 9-10% on online sales.
2006: Improved Sales at Disney Stores
In 2006, open Disney Stores saw a 15% increase in sales, attributed to strong Disney box office performance and the success of High School Musical.
April 2007: Launch of Disney Store Website
A website for the Disney Stores operated by The Children's Place was launched in April 2007.
June 2007: Negotiations to Sell Disney Stores
The Children's Place began negotiations to sell the Disney Store rights back to Disney in June 2007.
2007: Operation of Disney Stores
Between 2004 and 2007, The Children's Place, through a subsidiary, operated 335 Disney Stores. They agreed to invest $100 million in upgrades and remodeling.
March 26, 2008: Hoop Holdings Bankruptcy Filing
Hoop Holdings, the subsidiary operating Disney Stores, filed for bankruptcy on March 26, 2008.
May 1, 2008: Disney Reclaims Stores
Disney regained ownership of 231 North American Disney Stores on May 1, 2008.
December 11, 2009: Jane Elfers Appointed CEO
Jane T. Elfers, former Lord & Taylor CEO, was appointed president and CEO of The Children's Place on December 11, 2009.
January 4, 2010: Elfers Assumes CEO Role
Jane Elfers officially began her role as president and CEO of The Children's Place on January 4, 2010.
2013: T-Shirt Controversy
In 2013, The Children's Place pulled a T-shirt featuring the "My best subjects" options, which caused controversy due to its portrayal of math.
February 2024: Mithaq Capital Investment
In February 2024, Mithaq Capital of Saudi Arabia acquired a majority stake in The Children's Place following the company's liquidity issues. Mithaq provided $78.6 million in interest-free loans.
May 20, 2024: Elfers Steps Down as CEO
Jane Elfers resigned as CEO of The Children's Place on May 20, 2024, receiving a $3.75 million payout.
May 24, 2024: Mithaq Outlines Strategy
Turki S. AlRajhi, chairman and CEO of Mithaq, communicated Mithaq's strategy for The Children's Place to shareholders on May 24, 2024.