Fast fashion retailer Forever 21 plans to open numerous new stores as part of its growth strategy. That’s what Natasha Fishman, chief communications officer for parent company Authentic Brands, said in an interview with RetailTrends. New store openings are also on the agenda in Europe.
Initially, Forever 21 focuses on the Gulf region – countries in the Middle East bordering the Persian Gulf. The company reportedly plans to open a new store there every month. Fisman is also eyeing new openings in Europe, but she hasn’t revealed exactly what that means yet.
Forever 21 was active in many European countries until five years ago. In the Netherlands, the retailer withdrew in 2018 after opening its first store on Amsterdam’s popular Kalverstraat shopping street in 2014. The company turned its back on Belgium in mid-2016. The first European flagship store opened in Dublin in 2010, which disappeared along with the Amsterdam store. Forever 21 was also active in stationary retail in Germany and brought its basic concept ‘F21 Red’ to Berlin in 2015. But here, too, all locations disappeared.
After suffering huge losses in a number of international markets and increasing online competition, Forever 21 filed for bankruptcy in September 2019. Authentic Brands Group, Simon Property Group and Brookfield Property Partners acquired the company for $81 million in 2020. The company then tried again as an e-commerce provider in Europe in mid-2020. Some products are currently also available from the online retailer About You.
This translated and edited post first appeared on FashionUnited.nl.