Forever 21 Totally Explained

Everything about Forever 21 totally explained

Forever 21 is a chain of clothing retailers throughout the United States and Canada offering inexpensive, trendy fashions and accessories for young women and men. Most of the retailer's apparel is private label and made in Southern California.

History

The chain, originally known as Fashion 21, was founded in Los Angeles, California in 1984 by Korean-American Do-Won Chang and his wife, Jin-Sook. While the first store, still located at 5637 N. Figueroa St. in Los Angeles was only 900 square feet, Fashion 21 eventually became so successful that Chang and his wife were able to open a new store every six months. After discovering the fashion appeal to teens and young adults, the couple changed their Fashion 21 brand name to Forever 21. In 1985, the first Forever 21 store was placed in a mall and increased from its previous size to 5,000 square feet. In 1995, the company expanded their chain to Florida and opened a store in Miami's Mall of the Americas. On June 23, 2007, Forever 21 officially opened its second store in Canada after its store in Edmonton. Located in Toronto on Yonge Street, the space was previously occupied by Gap and is situated across the street from fellow cheap-and-chic store H&M. As they grew, the store hired some of their best, Chang Ho (Alex) Ok [President] and Larry Meyer [CFO]Today, more than 400 stores in the U.S., Canada, Singapore, Malaysia, Jordan, and the United Arab Emirates operate in the Forever 21 chain, including Forever XXI (large flagship stores), For Love 21 (accessories), Heritage 1981 (men's and women's vintage), Twelve by Twelve (upscale Los Angeles), and Gadzooks 21 (formally Gadzooks).
   Its revenue has topped $1 billion in 2006, catapulting Forever 21 into the ranks of the top 500 privately held companies in the U.S. The business strategy of Forever 21 has budgeted expenses in advertising. The company chooses to keep their money away from premium real estate that attracts heavy commercial traffic.
   Shoppers can rely on up-to-date fashions at their local Forever 21 location because merchandise arrives in stores every day. A typical store will roll over 20 percent of its stock in a given week. The constant turnover is key to the chain's fashion appeal.
   The store's trademark yellow shopping bags have the words printed on the bottom, a reflection of the owners' Christian faith.

Controversy

In November 2001, factory workers producing clothing for the company called for a store boycott until working conditions and payroll improved. The lawsuit was dropped when Forever 21 paid the workers' back wages.
In 2004, under pressure from PETA, Forever 21 agreed to stop selling clothing made with animal fur.
Forever 21 has also been accused of stealing designs from high-end fashion brands. Recently, Designer Diane von Fürstenberg has filed a lawsuit against Forever 21 for duplicating her dress designs. Since that time Furstenberg has settled with the company for undisclosed terms . Singer and designer Gwen Stefani has filed a federal lawsuit against the fashion megachain, claiming the retailer illegally ripped off her Harajuku Lovers designs. Designer Anna Sui has also filed a lawsuit against Forever 21 alleging that Forever 21 sold and offered for sale numerous women's clothing items bearing a striking similarity to her products featured at the most recent New York Fashion Week shows.

Further Information

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