Business In News
Fast fashion retailer Forever 21 will add 14 new stores to its roster across the U.S. through June 2023.
Forever 21 started to unveil its new U.S. stores in August 2022 with the opening of a location at the Gran Plaza Outlets in Calexico, Calif. In addition to this Southern California store, the retailer has new shops planned for Illinois, Rhode Island, Nevada, Iowa, Pennsylvania, Virginia, Massachusetts, Georgia, Florida and Puerto Rico.
“Consumers are once again enjoying the benefits of shopping in-store and are purchasing for a range of activities such as expanded social events or a wardrobe refresh as they return to the office,” says Jacob Hawkins, Forever 21 Chief Marketing, Digital and Omni Officer in a statement. “We’re also seeing even more customers choosing the buy online, pick up in-store option, and these 14 new stores reflect our commitment to ensuring we have the local inventory to meet demand for this increasingly popular omni shopping model.”
Forever 21 plans to celebrate each new store with a grand opening featuring special promotions, giveaways, gifts with purchase and food. The retailer’s new stores will be decorated to encourage customers to participate in photo ops and share their in-store experiences through digital channels.
In 2020, Simon Property Group, Brookfield Property Partners and Authentic Brands Group bought Forever 21 following the retailer’s bankruptcy filing. In Q1 2021, Brookfield decided to sell its interest in the company for $63 million.
Forever 21 has begun to slowly expand again since then through new opportunities such as a partnership to sell its clothing through JCPenney stores in December 2021. The retailer reentered China with a physical store at the Jingjiang Impression City shopping center in Taizhou in June 2022. Its expansion also grew within the digital world in March 2022 when the retailer signed a lease agreement with Tokens.com to create an NFT storefront through a virtual property.