Forever 21 news and archive

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...

Retail

ABG expands Forever 21's presence in Latin America

Authentic Brands Group has announced a new partnership with AR Holdings to expand the presence of Forever 21 in the region of Latin America. A leading retail operator in the region, AR Holdings will help drive the brand across ecommerce, wholesale and 26 retail locations in Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador,...

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People

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...

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Business

Forever 21 was officially acquired by Authentic Brands Group & Simon

Authentic Brands Group, Simon Property Group and Brookfield Property Group have confirmed acquisition of Forever 21. ABG and Simon will each own 37.5 percent of the retailer's intellectual property and operating businesses. , while Brookfield will own 25 percent. “Forever 21 is a powerful retail brand with incredible consumer reach and a wealth...

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Business

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,...

Business

Forever 21 considers sale for 81 million dollars

Forever 21 might be bought up by one of three buyers. The struggling fast fashion chain has been scrambling to restructure since it filed for bankruptcy protection under Chapter 11 in September 2019. Now, the company has announced that it is considering a sale to a group of bidders that includes Simon Property Group, Brookfield Property Partners...

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Retail

Forever 21 launches localized online stores in 4 markets

Forever 21 is targeting consumers in Canada, Asia, APAC and LATAM through localized online stores. The American retailer has teamed with cross-border e-commerce solutions provider Global-e to build its localized digital stores and accelerate online growth in each specific market. The new online stores are said to launch this month, ahead of...

Video

Analyzing the rise and fall of Forever 21

As the once rapidly expanding fast fashion brand, Forever 21 prepares to file for bankrupcy, Business Insider takes a look at what went wrong for the brand. At its peak, Forever 21 was making 4.4 billion USD in profits and is currently one of the largests tenants of malls in America. If someone would have predicted this in 2008, shoppers would...

Business

Forever 21 exits Canadian market amidst bankruptcy

Forever 21 has announced plans to wind down operations of its Canadian subsidiary, Forever XXI ULC, also referred to as Forever 21 Canada. The company voluntarily filed for bankruptcy protection under Chapter 11 this weekend. The American fast fashion chain was granted protection under the Companies' Creditors Arrangement Act by the Ontario...

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Business

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...

Business

Ariana Grande sues Forever 21 for 10 million dollars

Forever 21's list of battles is growing. The American fast fashion chain, which is reportedly mulling a bankruptcy, is now being sued by pop star Ariana Grande. According to Grande, Forever 21 has used the star's signature look and style for advertisement purposes without her permission. Grande filed a suit earlier this week in a Los Angeles...

Business

Forever 21 sued by Ariana Grande

US pop star Ariana Grande has sued fashion retailer Forever 21 for using her trademark style to promote its products without her permission, including adverts featuring a "look-alike model." Grande is seeking 10 million dollars over claims the brand, and its spin-off cosmetics line Riley Rose, created an online campaign with striking...