Nearly a decade ago, before Instagram influencers existed, Forever 21 helped teen girls dress like their favorite celebrities, for cheap. What went wrong?
through a translator in 2012. “Old people wanted to be 21 again, and young people wanted to be 21 forever.”
Forever 21 invested heavily in conventional malls, but “they’re just not all going to be good stores,” Friedman said. “If you have stores losing a lot of money, the good stores can’t make up for all the bad stores.” Metchek thinks Fashion Nova, a Los Angeles-based, online-only fast-fashion retailer known for its body-hugging silhouettes, “is the new Forever 21.”
The landscape is rough for clothing chains. Abercrombie & Fitch plans to close 40 of its stores this year. Gap Inc. is slashing 230 of its namesake brand’s stores and splitting into two publicly held firms, spinning off its better-performing Old Navy brand.
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