Forever21 news and archive

Debenhams and Arcadia Group could soon be under American ownership

Authentic Brands, the parent company that bought Barneys and Forever 21 when they collapsed into bankruptcy, is eyeing British fashion giants Arcadia Group and Debenhams. A report by the Telegraph said the American retail giant is in discussions with both administrators, which sees the UK businesses continue to trade despite the risk of 25,000...

BusinessFeatured

Rise in companies falling into administration in 2019

Store closures and companies falling into administration increased by just under 5 percent over 2019, according to new analysis from KPMG. A study of notices in the London Gazette shows that a total of 1,403 companies went into administration during 2019, compared to 1,341 in the previous year. The rise was driven by a spike in insolvencies in...

BusinessFeatured

Forever21 files for bankruptcy, “takes positivesteps to return to profitability”

New York – Forever 21, Inc. announced Sunday it has voluntarily filed for bankruptcy protection under Chapter 11. The fast fashion company broke the news to its customers first, via a letter on their website where they reassure them “this doesn’t mean that we are going out of business.” “This was an important and necessary step to secure the...

BusinessFeatured

Could the US’ biggest mall owner be the saviour of apparel retailers?

New York - Simon Property Group, the biggest mall owner in the U.S., said on July, 31 it is considering retail investment as it looks to keep stores afloat. They have already rescued ailing teen apparel brand Aeropostale. As reported by CNBC, Simon CEO David Simon said on a post-earnings conference call that “I think it’s very possible — we’re...

Retail

Visual search tool used by Forever 21 raises 6.5 m in funding

Visual search firm Donde raised 6.5 million dollars in Series A funding following a partnership with Forever 21. Its partnership with the fast fashion brand allowed shoppers to search for items through selecting specific style attributes such as length or fit. Donde's tool works to transform the e-commerce experience through allowing sites to...

Fashion

Katy Perry removes two shoe styles due to blackface controversy

Designers are starting to become more mindful about the connotations associated with design motifs. After Gucci apologized last week for selling a black, high-necked jumper that can be pulled over the face and shoppers noted the similarities between a Prada trinket and blackface imagery, pop star-turned-footwear entrepreneur Katy Perry has...

Business

Forever21 scales back in India

Aditya Birla Fashion and Retail Ltd (ABFRL), the company managing Forever21 in India, has started downsizing the American brand presence in the country following a decline in sales. The Indian licensee of the American fast fashion brand is downsizing the brand’s stores and cutting costs as sales from the fast fashion business decline, a top...

Business

Forever 21 warns customers: their personal data might have been compromised

Forever 21 announced on Tuesday that customers who shopped in certain stores this year may have had their credit-card information stolen. This data breach might have specifically affected customers who shopped in the chain’s stores from March 2017 through October 2017. However, the number of people potentially affected was not yet available....

Fashion Featured

Justin Bieber collaborates with Forever 21 for Purpose Tour collection

New York - Justin Bieber's been making headlines for his rumored relationship with Sofia Richie, but the musician has a lot going on aside from his tabloid headlines. His Purpose World Tour is in full effect, and in honor of the tour, he is doing a collaboration with Forever 21. The collaboration, done with merchandise label Bravado, is a total...

Retail

Forever21 starts looking for stores to open in Poland in the second half of 2016

The US fast fashion brand is set to launch in Poland by the second half of the year. In fact, the fifth largest fashion retailer in the United States has commissioned Teren Management Europe and Cushman & Wakefield to locate the best spots for its Polish debut. Teren Management Europe, the franchising consultancy Forever 21 has confided its...

Business

Forever 21 negotiating a 150 million dollars loan to support growth

Forever 21 Inc wants to speed up its growth rate and in order to do that, it needs more money. Or so the fast fashion retailer is explaining to Wells Fargo & Co. and TPG, to whom it has turned to ask for a credit line to strengthen its productivity. As reported earlier this week by the ‘Wall Street Journal’, Forever 21 fashion group is in talks...

RetailFeatured

Forever 21 looks to downsize mega-stores

London - American sentiment has long embraced the notion that bigger is better, but US retail giant Forever 21 is looking at downsizing some of its biggest stores in order to facilitate its growth. The company, which also operates three stores in the UK, is in talks for a loan to boost its expansion plans. An RBC analyst told the Wall Street...