In 1961, Rowland Schaefer founded Fashion Tress Industries, a company that sold wigs and became the world's largest retailer for fashion wigs. In 1973, Fashion Tress acquired Claire's, a 25-store jewelry chain, and began shifting its focus towards a line of fashion jewelry and accessories under the new name, Claire's Accessories, Inc. Claire's Accessories began providing ear piercing services in 1978 and, in 1980, established a Hong Kong-based sourcing office. During the 1980s, Claire's Accessories opened new stores throughout the United States and bought Topkapi, a Japanese chain of 16 stores, in 1989. Claire's Accessories continued acquiring companies in the 1990s, including Bow Bangles — a British chain with 71 stores in England, Wales, and Scotland — in 1995; two American chains, The Icing (85 stores) and Accessory Place (31 stores), in 1996; and Bijoux One, a Swiss chain, in 1998. The Icing would become the company's primary brand for women in their 20s. In 1999, Claire's purchased Cleopatre, a chain in Paris with 42 stores, for $11 million cash, as well the American chain, Afterthoughts. Afterthoughts stores were converted to Icing stores after they were purchased. In 1997, the business changed its name to Claire's. In 2001, claires.com was launched. In 2002, the company purchased the US-based clothing chain, Mr. Rags.