With the economy still in trouble, many consumers are searching for latest trends at bargain prices. In result, company's such as Forever 21 are thriving with their fast-fashion concepts.
On April 29th, Forever 21 opened their first 19,000-square-foot flagship in Japan, which is the world's second largest economy. Forever 21 plans on opening as many as 100 more stores in the country within the coming years.
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Forever 21 interesting tidbits:
- Fashion 21, which is now Forever 21, launched it's first store in Los Angeles in 1984.
- New styles are placed on the store floors daily, due to their amazingly quick turnaround.
- Currently, there are 430 Forever 21 stores.
- Forever 21 is in the process of opening up a 126, 000-square-foot store in Las Vegas Fashion Show Mall which should open by next year in May, in addition to a 80,000-square-foot store at The Los Cerritos Center near Los Angeles later this year.
- Over the last three-and-a-half years, the company has been sued more than 50 times for copyright infringement(knocking off the designs of others).
- Forever 21 is on track to post 2009 sales of between $2.3 billion and $2.4 billion.
- Forever 21 prints the biblical reference to John 3:16 at the bottom of their shopping bags due to deeply religious founder Do-Won Chang.
I wouldn't necessarily agree with all their ethics, but their concept is making them billions!
xoxo,
T - wishing for a successful business of 2.4 million sales. One can only dream ;)