Forever 21 news and archive

Forever 21 expected to close all 354 US stores on May 1

Forever 21 is officially shutting its doors. The fast fashion retailer is believed to be preparing to close all of its 354 US stores today, May 1. This is according to court documents obtained by USA Today. The company’s operator, F21 OpCo, had been given until April 30 to find a buyer for the brand, however, no such party has stepped forward....

Business

Forever 21 to close its US operations after filing for bankruptcy

Forever 21, once a dominant force in fast-fashion retail, is set to permanently close all of its US stores after filing for bankruptcy for the second time, Reuters reports. Forever 21 stores outside the United States are not involved in this case. The company’s US operations cited several factors behind the closure, including intense competition...

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Business

Forever 21 to reportedly shutter Los Angeles headquarters

US fashion retailer Forever 21 is believed to be preparing to close its Los Angeles corporate headquarters ahead of a potentially incoming bankruptcy filing, which could also result in the shuttering of 200 stores. According to a regulatory filing with the California Employment Development Department, seen and initially reported on by Los...

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Business

Forever 21 reportedly closing 200 stores amid second bankruptcy

Fast fashion retailer Forever 21 is believed to be on the verge of closing 200 of its stores as its operator in the US, F21 OpCo, prepares for the launch of a bankruptcy process. According to sources for Bloomberg News, this process will start next month, during which it is understood that a buyer will also be sought for the retailer’s remaining...

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Business

Forever 21 exits Colombian market as income drops

US fast fashion retailer Forever 21 is believed to be preparing to shutter in the Colombian market 12 years after its initial entry. The news follows the closure of the retailer’s flagship store in Bogotá, according to local news outlet elColombiano, which said that Forever 21’s additional three stores in Medellín and Bucaramanga are to succumb...

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Business

Shein and Sparc Group establish strategic partnership to explore new strategies

Shein has entered a strategic partnership with Sparc Group in a bid to expand the duo’s reach across the US and explore new business strategies. While Shein will acquire an around one-third interest in Sparc Group, the firm that oversees Authentic Brands Group and Simon Property Group, Sparc is to become a minority shareholder in the Chinese...

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Business

Authentic Brands Group's acquisition strategy: A look at the past five years

The American Authentic Brands Group (Authentic) is becoming an increasingly important player in the fashion industry, partly thanks to the various acquisitions it has made in recent years. The group seems to be pursuing a buy-and-build strategy and already has more than 40 brands in its portfolio. If you have lost track of all recent...

Retail

Forever 21 relaunches in Japan, with upmarket aspirations

When Forever 21 filed for bankruptcy in 2019 it had exited nearly 40 markets, closed hundreds of stores and was dousing the flames of a pr disaster for insulting the plus-size community. It was, by all accounts, not a good year for the fast fashion retailer. Yet bankruptcy did not spell the end of the brand, which relaunched the following...

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Business

Forever 21 selects Winnie Park as CEO

Fashion retailer Forever 21 has announced the appointment of Winnie Park as its chief executive officer (CEO), effective immediately. Park joins from Paper Source, at which she served as CEO for six years. During that time, Park oversaw the transition of the company into a lifestyle brand and powered the development of its digital platform....

Fashion

Forever 21 partners with Roblox

Forever 21 has partnered with Roblox on a digital experience. Called the Forever 21 Shop City, users will be able to build, own and manage their own personal store within the game. Forever 21 items will be available for purchase, including clothing and accessories. Non-player characters can be hired as employees, as users aim to become the top...

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Fashion

JCPenney announces addition of Forever 21 at 100 stores

JCPenney has announced the addition of Forever 21 to its portfolio of brands. The brand will be available at 100 JCPenney stores across the US, as well as on its online store. The move adds to JCPenney’s identity as a retailer for teens and young adults. Forever 21’s launch at JCPenney is being driven through a 360 marketing campaign, including...

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People

Daniel Kulle resigns from Forever 21

Daniel Kulle, CEO of Forever 21, has stepped down from his role. Prior to joining Forever 21, Kulle spent 25 years at H&M. He joined Forever 21 in February 2020. The news was reported by WWD. Kulle sent out an e-mail to his colleagues two weeks ago saying he was taking time off to find out his next move. Kulle came in as Forever 21 was getting...