Lord help us all! Forever 21 plans to build larger fast-retailing stores…at a mall near you. According to WWD, within four years Forever 21 expects to be in position to be a mall
anchor as it evolves from a teen-focused business into one devoted to a
youth-lifestyle retail concept.
Christopher Lee, senior vice
president of the firm, shared elements of the company’s strategic plan
Thursday during a panel discussion on "Retail’s Moment of Definition,"
hosted by Fashion Group International at the Hilton New York.
21 reported sales of $1.3 billion in 2007 and this year estimated
growth to $1.8 billion, spread out among more than 400 stores. Although
15,000-square-foot stores were once the norm, many are now 40,000
square feet, like the flagship that opened in Pasadena, Calif., in
told the group that the company is moving toward a 90,000-square-foot
model in select locations, making it a potential anchor. The retailer
also is eyeing stores in South Korea, possible acquisitions in the U.K.
and going into Russia on its own, rather than with a joint venture
Now that’s a lot of cheap clothing!
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