Maurices is a well-known women’s apparel brand in the United States and Canada, primarily recognized for its affordable and stylish clothing. With a presence in both small towns and major cities, Maurices has become a go-to for women looking for trendy, well-fitting clothes at accessible prices. In this article, we’ll explore the history and growth of Maurices, whether the brand is going out of business, its ownership structure, what it’s most famous for, its competitors, and its future prospects.
History and Growth of Maurices
Maurices was founded in 1931 by E. Maurice Labovitz in Duluth, Minnesota. What began as a small local store quickly expanded, and by the 1970s, the company had grown into a well-established regional brand. Over time, Maurices expanded its reach beyond Minnesota, opening stores across the U.S. and Canada. The brand made a name for itself by offering affordable, trendy clothing to women in smaller cities, carving out a niche that larger national retailers often overlooked.
In 2005, Maurices was acquired by Ascena Retail Group, and later, in 2019, it was sold to the private equity firm OpCapita. Despite changes in ownership, Maurices has maintained a focus on value and style, with hundreds of locations across North America.
Is Maurices Going Out of Business?
There is no evidence to suggest that Maurices is going out of business. While there have been some store closures in certain locations, this is part of a broader trend affecting many traditional brick-and-mortar retailers, especially those based in malls. For example, some stores in high-traffic shopping malls have shut down due to changing consumer shopping habits, with more people shopping online and malls seeing decreased foot traffic.
However, Maurices is still operational, with many stores continuing to serve customers, especially in smaller towns where the brand has a strong presence. Despite some closures, the company’s strong brand identity and customer loyalty indicate that it is not going out of business anytime soon.
Who Owns Maurices?
Maurices was initially an independent company but has changed ownership several times over the years. In 2005, the brand was acquired by Ascena Retail Group, a larger retailer that also owned brands like Lane Bryant and Dressbarn. In 2019, Ascena sold a majority stake in Maurices to the private equity firm OpCapita, which currently owns the brand. OpCapita specializes in investing in underperforming retail brands and helping them revitalize their business models.
OpCapita’s ownership brings a fresh perspective to Maurices, focusing on adapting the brand to changing consumer trends while maintaining its strong heritage in value-focused fashion.
Current Owners and Production Status of Maurices
Under the ownership of OpCapita, Maurices continues to operate hundreds of stores across the United States and Canada. The brand remains focused on offering trendy, affordable fashion to women, with a wide range of clothing, including casual wear, dresses, outerwear, and accessories.
Maurices has also been adapting to modern retail trends by improving its digital presence. The company has embraced e-commerce, allowing customers to shop online and choose between home delivery or in-store pickup. Despite challenges in the retail sector, Maurices continues to produce and sell its apparel, with a focus on providing high-quality clothing at affordable prices.
What Was Maurices Most Famous For?
Maurices became most famous for offering stylish, well-fitting clothing at a budget-friendly price point. The brand’s specialty was creating casual, yet fashionable clothes that catered to a wide range of women, including those looking for plus-sized options. Maurices was particularly popular for its denim collection, known for its comfortable fit and variety of sizes, making it a go-to for customers in search of well-fitting jeans.
The brand also built a reputation for understanding the needs of women in smaller cities and towns. Unlike larger, urban-focused retailers, Maurices had a strong foothold in areas often neglected by other major fashion brands, offering a personalized shopping experience that resonated with local communities.
Who Are Maurices’ Main Competitors?
Maurices operates in the affordable fashion market for women, so it faces stiff competition from both national chains and online retailers. Some of its main competitors include:
- Old Navy: Known for its budget-friendly, stylish clothing, Old Navy offers a similar product mix with an emphasis on family-friendly fashion.
- American Eagle Outfitters: Targeting a similar demographic, American Eagle offers trendy apparel with a focus on casual wear and denim.
Maurices Future Prospects
Maurices faces both challenges and opportunities as it looks to the future. The brand’s strong presence in smaller towns and cities gives it a unique edge over competitors that are primarily focused on larger urban areas. By continuing to emphasize affordability and providing well-fitting, trendy clothing, Maurices can retain its loyal customer base.
However, the retail landscape is changing rapidly, with more consumers shopping online and seeking faster fashion. Maurices will need to invest heavily in e-commerce and improve its digital experience to stay competitive. Expanding its online presence and offering a seamless shopping experience both online and in-store will be key to its future success.
Conclusion
Maurices has built a solid reputation over the years as an affordable fashion brand catering to women in smaller cities and towns. While it’s facing challenges in the retail market, including store closures and competition from fast-fashion giants, the brand is far from going out of business. With its new ownership under OpCapita, Maurices is poised to adapt to the changing retail landscape, focusing on digital growth and customer loyalty. If the brand can continue to evolve while staying true to its roots of providing value and quality, Maurices could have a bright future ahead.