Based in Duluth, Minnesota, Maurices Inc., stylized as Maurices Credit Card, is an American women’s clothing retailer. Founded in Duluth in 1931, the chain has more than 1,000 stores across the United States and Canada, most located in malls and small towns.
The Labovitz founding family sold Maurices in 1978 to the Brenninkmeijer family’s American retail group. In 2005, Ascena Retail Group acquired it from American Retail Group. In 2011, Forbes.com listed Mauritius as one of the “Top Ten Retail Employers”.
Earlier this year, Ascena sold a majority stake in Maurices to an American subsidiary of London-based private equity firm OpCapita LLP for $300 million. Maurices’ management team remained in place, with former GAP CEO Jeff Kirwan joining as the company’s new CEO. In the interim, Ascena will hold a minority stake in Maurices. According to a public statement released after the transaction, Henry Jackson, CEO of OpCapita, said he “appreciates Ascena’s continued support through its equity stake and the suite of services Ascena offers.
In November 2011, Maurices announced a collaboration with famed designer Christopher Straub of the Lifetime Network reality show Project Runway Season 6. The products are branded Christopher Straub for Maurices and launched nationwide on Friday, November 25, 2011. 2011. Straub also designed a plush puppy as part of the collection to benefit the American Cancer Society. This cooperation is a continuation of the search for Maurice’s Main Street model that took place with Straub in early 2011.
Ascena sold a majority stake in Maurices in March 2019 to an American subsidiary of London-based private equity firm OpCapita LLP for $300 million. Maurices’ management team remained in place, with former GAP CEO Jeff Kirwan joining as the company’s new CEO. The company’s minority owner will remain Ascena. Following the transaction, Henry Jackson, CEO of OpCapita, said he “appreciates Ascena’s continued support through its equity stake and the suite of services Ascena offers.