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The Children's Place is a specialty boutique that sells children's clothing and accessories. With only a few stores when it first opened in 1969, it became a subsidiary of Federated Department Stores in 1981. When the parent corporation sold off some of its brands in 1988, Joseph Sit joined a group of investors to purchase the company. Profits soared due to a relationship with Disney, which allowed the children's place coupon to operate the Disney Store.