Fast Fashion - Forever 21
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.
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!
T - wishing for a successful business of 2.4 million sales. One can only dream ;)