Forever 21 news and archive

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...

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...

BusinessFeatured

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...

BusinessFeatured

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...

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...

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...

Business

Forever 21 looking to grow in Brazil with Dafiti

Authentic Brands Group has announced a strategic partnership with Dafiti to grow its Forever 21 brand in Brazil through a digital-first retail strategy. Dafiti, the leading e-commerce company in Brazil specialising in retail development and brand building, will launch an all-new Forever 21 online destination and create an exclusive branded...

PeopleFeatured

Forever 21 appoints former H&M executive as new CEO

Authentic Brands Group (ABG) has announced the appointment of former H&M executive Daniel Kulle as the new CEO of Forever 21. The news comes after ABG, along with Simon Property Group and Brookfield Property Group, acquired the embattled LA-based fast-fashion chain earlier this month after it filed for Chapter 11 bankruptcy protection in...

BusinessFeatured

The latest on Forever 21: it accepts 81 million offer from commercial real estate-led investors

New York – Forever 21 is reported to have taken an 81 million dollars from a group of buyers led by commercial real estate developers including Simon Property Group and Brookfield Property Partners. "Once approved the agreement will allow Forever 21 to come out of bankruptcy, keeping its headquarters, stores and E-commerce operations open,...

Retail

Forever 21 to continue in India retail despite odds

Stores of the brand Forever 21 in India will not be impacted in any way by the restructuring underway in the United States, says Aditya Birla Fashion and Retail, which runs Forever 21 in India as a franchise operation. However, Aditya Birla Fashion and Retail may downsize the brand’s stores, cut costs and focus on opening new but smaller stores...