Fast fashion in trouble Forever 21 years past Negative news up Brand Date: 2018-01-16 15:37
The American fast-fashion brand Forever 21 has become the most negative brand in the past year.
According to the latest news from Fashion Network, Forever 21 Amsterdam flagship store will be closed in January. Benjamin Colin, general manager of the store, disclosed the news on LinkedIn, saying that the reasons for the store were internal adjustments and unforeseen changes in the market environment. It is alleged that about 100 employees will be affected by the store.
Forever 21 entered the Dutch market for the first time in 2014 and opened a 4,500 square meter Amsterdam flagship store. One year later, Rotterdam opened another store and is currently operating normally. In 2016 Forever 21 left the Belgian market after six years of hard work and closed its stores in Brussels and Antwerp. At that time, Belgian media claimed that the decline in high rents and online sales was the reason for exiting the Belgian market. Currently, e-commerce companies in the Netherlands and Belgium are still operating.
It is worth noting that Forever 21's European headquarters and distribution center is located in the Netherlands. The closure of the Amsterdam flagship store apparently conveyed negative signals in the European market.
At the same time, in the sluggish retail environment in the UK, Forever 21 is continuously reducing the size of the UK market. In addition to Amsterdam, the company will also close a number of European stores, including Dublin, and begin closing its stores in the North American domestic market. The next one is the store in Downtown Vancouver that will be closed this month. It is unclear whether the UK will further close its stores in the UK, but at present the company currently has only three stores in the UK.
As the sales volume in Australia continues to slump, Forever 21's flagship store in Sydney is also about to close. The brand officially entered the Australian market in 2014.
The Asian market is also not optimistic. Just over two months ago, Forever 21 also closed Japan's first flagship store. The store opened in April 2009. On the opening day, it attracted 1,800 consumers to queue up for purchase, and quickly became a shopping paradise for Japanese fast-fashion consumers. Some analysts pointed out that lower and lower foot traffic and high rents are the main reasons leading to the closure of Forever 21's flagship stores in Japan.
Affected by the continuing downturn in the retail market in Hong Kong, Forever 21 closed its 6-storey flagship store at the Jinghua Center in Causeway Bay, Hong Kong, early this year. It retains only a small store in Mong Kok. The original flagship store will be taken over by Victorias Secret. It is reported that the flagship store building is expensively rented and it was already more than 10 million Hong Kong dollars at the beginning of its opening. The brand must ensure that only a few clothes and accessories are sold every minute to ensure profitability.
At present, Forever 21 has more than 800 stores in 57 countries. Such body mass was once regarded as a manifestation of scale, but now it becomes a performance burden.
In 1984, Forever 21 was founded in the United States and has grown into one of the world's largest fashion chain brands for more than 30 years. Having undergone a rapid expansion phase, Forever 21 has fallen into crisis and outlined the typical development path of fast fashion.
In the current situation, the industry leader ZARA and HM also dared not take it lightly and is stepping up restructuring and restructuring.
Forever 21
The picture shows M launches the brand Arket
HM successively launched the main niche and high-quality new brand Arket and/or Nyden, and at the same time stepped up efforts in e-commerce and settled in China's Tmall. According to the Swedish media Breakikit news, HM Group will also launch a large discount e-commerce platform named P12 in April. Currently, 60 brands have agreed to join.
Although Zara sits firmly in the industry, it still suffers from the burden on physical stores compared to the ultra-fast-fast fashion e-commerce website that responds faster. According to the latest news from foreign media, Zara has signed a lease-back agreement with buyers for the sale of 16 stores in Spain and Portugal. The total value of the agreement is expected to reach US$472 million. Allegedly, the main purpose of this sale is to invest more funds in the online e-commerce business in Zara Spain.
With the fast-fashion industry entering a difficult transition period, Forever 21 is no exception. According to a data from the UK market, Forever 21 submitted its annual accounts as of February 2016 at the end of December. During the period, after-tax losses surged by 75% to 16.9 million pounds from 16.6 million pounds, and the turnover decreased from 53.86 million pounds. 46.5 million pounds. Some analysts believe that this trend will continue into next year.
In addition to the influence of the environment, Forever 21's own problems are too obvious.
In the past year, Forever 21 and luxury fashion brand lawsuits have occupied a large number of media layouts. As luxury fashion brands have become increasingly intolerant of the creative plagiarism of fast fashion in the past, this year Forever 21 has been accused of trademark infringement by Puma, Gucci and adidas.
Forever 1 and Gucci trademark disputes continued for six months caused the industry to pay close attention. Forever 21 stated that it received three warning letters from Gucci’s lawyers in February this year asking them to stop selling certain striped clothing and accessories. In June of this year, Forever 21 decided to ask the court to cancel Gucci Stripe’s trademark rights in the United States before Gucci officially initiated the lawsuit. In response, Gucci decided in August this year to formally sue Forever 21 for the plagiarism of its iconic red and blue stripe designs.
Forever 21
The picture shows Forever 21 allegedly copied Gucci red and blue striped goods
In addition, Forever 21's infringement dispute also involved the German sports brand adidas and the American Family Planning Coalition.
According to the latest report from the US Women's Daily, the dispute between Forever 21 and Puma has further escalated.
In April last year, Puma officially filed a lawsuit in a US court, saying that Forever 21 copied and sold its best-selling Fenty by Puma is not only an insult to Puma and the designer, but also a threat to Puma's entire business.
Recently, however, the case was involved in the design of Fenty by Puma Rihanna, so that the extent of the latter's involvement in the design was questioned. Last week, Forever 21 asked the California Federal Court to subpoena Rihanna and Roc Nation Management, a management company founded by Roc Z, and Kendo Holdings, which handles Rihanna's business affairs.
A judge stated that although Puma publicly claimed that Rihanna had designed the shoes involved in the lawsuit, Rihanna was not the author of Puma's copyright application, nor the inventor of Puma's design patent. As a result, Forever 21 is striving for the legal use of design elements such as suede sneakers, fur sandals and bow-tie satin sandals, against Puma’s allegations of infringement.
Forever 21
The photo is suspected of plagiarism Puma goods, followed by Puma, Forever 21
Although Forever 21 is once again at the peak in this case, some analysts believe that in the long-term view of the brand, investing too much time and energy into legal disputes will make the fast-fashion brands that are already in crisis take a look. Strategic transformation and upgrading.
More importantly, brand reputation and favorability are constantly being consumed in endless infringement news. For millennial consumers eager to be true and personal, the importance of the brand image continues to increase, and the situation of the Scandal-ridden Forever 21 is becoming dangerous.
Financial website 24/7 Wall Street analyzed the ratings of employees on the online job site Glassdoor and announced the nation's worst employer rankings. Forever 21 took the first place with a comprehensive score of 2.5 (out of 5). The clothing retailer has more than 30,000 employees, but its recognition rate for the CEO is only 30%.
Today, fewer and fewer consumers are willing to buy products that are too similar to the luxury brand's creativity, because this will make them feel embarrassed. Another drawback of fast fashion copying is that due to the lack of originality of the brand, consumers’ loyalty to fast fashion has been kept at a low level. When there are more choices in the market, they will not hesitate to switch to another brand. . In order to improve its performance, Forever 21 is making some efforts, for example, in the United States this holiday season, the first to open 10 US retail stores Riley Rose to make initial attempts. The brand said that if the market responds positively, it will open another 10 before March 2018. Riley Rose mainly sells a range of beauty products. In addition to selling products produced by its own brands, it will also introduce new and popular beauty brands on social media.
According to the statement issued earlier by the brand, Forever 21 will also focus on expanding its comprehensive store, F21 Red. The number of stores is expected to increase from the current 30 to more than 70.
The F21 Red concept store was launched in 2014. It was originally a new comprehensive store for Forever 21 to meet the diverse shopping needs of consumers. The in-store product categories include Forever 21, 21 Men, Forever 21 Plus, cosmetics and footwear accessories. . Forever 21 Vice President of Commodities Lin Dachang said that he is optimistic about the development potential of F21 Red. It is expected that F21 Red will have more than 500 stores in the world in the future.
Forever 21
The picture shows the British fast fashion e-commerce ASOS
It seems that Forever 21 is still frantically opening the store. With Boohoo, ASOS, Missguided and other fashion e-commerce companies springing up, the market will either fight for design or fight products, and eventually fight for speed.
But what are the advantages of Forever 21? Speed ​​and creativity are weaknesses.
Source: Fashion Headlines
The American fast-fashion brand Forever 21 has become the most negative brand in the past year.
According to the latest news from Fashion Network, Forever 21 Amsterdam flagship store will be closed in January. Benjamin Colin, general manager of the store, disclosed the news on LinkedIn, saying that the reasons for the store were internal adjustments and unforeseen changes in the market environment. It is alleged that about 100 employees will be affected by the store.
Forever 21 entered the Dutch market for the first time in 2014 and opened a 4,500 square meter Amsterdam flagship store. One year later, Rotterdam opened another store and is currently operating normally. In 2016 Forever 21 left the Belgian market after six years of hard work and closed its stores in Brussels and Antwerp. At that time, Belgian media claimed that the decline in high rents and online sales was the reason for exiting the Belgian market. Currently, e-commerce companies in the Netherlands and Belgium are still operating.
It is worth noting that Forever 21's European headquarters and distribution center is located in the Netherlands. The closure of the Amsterdam flagship store apparently conveyed negative signals in the European market.
At the same time, in the sluggish retail environment in the UK, Forever 21 is continuously reducing the size of the UK market. In addition to Amsterdam, the company will also close a number of European stores, including Dublin, and begin closing its stores in the North American domestic market. The next one is the store in Downtown Vancouver that will be closed this month. It is unclear whether the UK will further close its stores in the UK, but at present the company currently has only three stores in the UK.
As the sales volume in Australia continues to slump, Forever 21's flagship store in Sydney is also about to close. The brand officially entered the Australian market in 2014.
The Asian market is also not optimistic. Just over two months ago, Forever 21 also closed Japan's first flagship store. The store opened in April 2009. On the opening day, it attracted 1,800 consumers to queue up for purchase, and quickly became a shopping paradise for Japanese fast-fashion consumers. Some analysts pointed out that lower and lower foot traffic and high rents are the main reasons leading to the closure of Forever 21's flagship stores in Japan.
Affected by the continuing downturn in the retail market in Hong Kong, Forever 21 closed its 6-storey flagship store at the Jinghua Center in Causeway Bay, Hong Kong, early this year. It retains only a small store in Mong Kok. The original flagship store will be taken over by Victorias Secret. It is reported that the flagship store building is expensively rented and it was already more than 10 million Hong Kong dollars at the beginning of its opening. The brand must ensure that only a few clothes and accessories are sold every minute to ensure profitability.
At present, Forever 21 has more than 800 stores in 57 countries. Such body mass was once regarded as a manifestation of scale, but now it becomes a performance burden.
In 1984, Forever 21 was founded in the United States and has grown into one of the world's largest fashion chain brands for more than 30 years. Having undergone a rapid expansion phase, Forever 21 has fallen into crisis and outlined the typical development path of fast fashion.
In the current situation, the industry leader ZARA and HM also dared not take it lightly and is stepping up restructuring and restructuring.
Forever 21
The picture shows M launches the brand Arket
HM successively launched the main niche and high-quality new brand Arket and/or Nyden, and at the same time stepped up efforts in e-commerce and settled in China's Tmall. According to the Swedish media Breakikit news, HM Group will also launch a large discount e-commerce platform named P12 in April. Currently, 60 brands have agreed to join.
Although Zara sits firmly in the industry, it still suffers from the burden on physical stores compared to the ultra-fast-fast fashion e-commerce website that responds faster. According to the latest news from foreign media, Zara has signed a lease-back agreement with buyers for the sale of 16 stores in Spain and Portugal. The total value of the agreement is expected to reach US$472 million. Allegedly, the main purpose of this sale is to invest more funds in the online e-commerce business in Zara Spain.
With the fast-fashion industry entering a difficult transition period, Forever 21 is no exception. According to a data from the UK market, Forever 21 submitted its annual accounts as of February 2016 at the end of December. During the period, after-tax losses surged by 75% to 16.9 million pounds from 16.6 million pounds, and the turnover decreased from 53.86 million pounds. 46.5 million pounds. Some analysts believe that this trend will continue into next year.
In addition to the influence of the environment, Forever 21's own problems are too obvious.
In the past year, Forever 21 and luxury fashion brand lawsuits have occupied a large number of media layouts. As luxury fashion brands have become increasingly intolerant of the creative plagiarism of fast fashion in the past, this year Forever 21 has been accused of trademark infringement by Puma, Gucci and adidas.
Forever 1 and Gucci trademark disputes continued for six months caused the industry to pay close attention. Forever 21 stated that it received three warning letters from Gucci’s lawyers in February this year asking them to stop selling certain striped clothing and accessories. In June of this year, Forever 21 decided to ask the court to cancel Gucci Stripe’s trademark rights in the United States before Gucci officially initiated the lawsuit. In response, Gucci decided in August this year to formally sue Forever 21 for the plagiarism of its iconic red and blue stripe designs.
Forever 21
The picture shows Forever 21 allegedly copied Gucci red and blue striped goods
In addition, Forever 21's infringement dispute also involved the German sports brand adidas and the American Family Planning Coalition.
According to the latest report from the US Women's Daily, the dispute between Forever 21 and Puma has further escalated.
In April last year, Puma officially filed a lawsuit in a US court, saying that Forever 21 copied and sold its best-selling Fenty by Puma is not only an insult to Puma and the designer, but also a threat to Puma's entire business.
Recently, however, the case was involved in the design of Fenty by Puma Rihanna, so that the extent of the latter's involvement in the design was questioned. Last week, Forever 21 asked the California Federal Court to subpoena Rihanna and Roc Nation Management, a management company founded by Roc Z, and Kendo Holdings, which handles Rihanna's business affairs.
A judge stated that although Puma publicly claimed that Rihanna had designed the shoes involved in the lawsuit, Rihanna was not the author of Puma's copyright application, nor the inventor of Puma's design patent. As a result, Forever 21 is striving for the legal use of design elements such as suede sneakers, fur sandals and bow-tie satin sandals, against Puma’s allegations of infringement.
Forever 21
The photo is suspected of plagiarism Puma goods, followed by Puma, Forever 21
Although Forever 21 is once again at the peak in this case, some analysts believe that in the long-term view of the brand, investing too much time and energy into legal disputes will make the fast-fashion brands that are already in crisis take a look. Strategic transformation and upgrading.
More importantly, brand reputation and favorability are constantly being consumed in endless infringement news. For millennial consumers eager to be true and personal, the importance of the brand image continues to increase, and the situation of the Scandal-ridden Forever 21 is becoming dangerous.
Financial website 24/7 Wall Street analyzed the ratings of employees on the online job site Glassdoor and announced the nation's worst employer rankings. Forever 21 took the first place with a comprehensive score of 2.5 (out of 5). The clothing retailer has more than 30,000 employees, but its recognition rate for the CEO is only 30%.
Today, fewer and fewer consumers are willing to buy products that are too similar to the luxury brand's creativity, because this will make them feel embarrassed. Another drawback of fast fashion copying is that due to the lack of originality of the brand, consumers’ loyalty to fast fashion has been kept at a low level. When there are more choices in the market, they will not hesitate to switch to another brand. . In order to improve its performance, Forever 21 is making some efforts, for example, in the United States this holiday season, the first to open 10 US retail stores Riley Rose to make initial attempts. The brand said that if the market responds positively, it will open another 10 before March 2018. Riley Rose mainly sells a range of beauty products. In addition to selling products produced by its own brands, it will also introduce new and popular beauty brands on social media.
According to the statement issued earlier by the brand, Forever 21 will also focus on expanding its comprehensive store, F21 Red. The number of stores is expected to increase from the current 30 to more than 70.
The F21 Red concept store was launched in 2014. It was originally a new comprehensive store for Forever 21 to meet the diverse shopping needs of consumers. The in-store product categories include Forever 21, 21 Men, Forever 21 Plus, cosmetics and footwear accessories. . Forever 21 Vice President of Commodities Lin Dachang said that he is optimistic about the development potential of F21 Red. It is expected that F21 Red will have more than 500 stores in the world in the future.
Forever 21
The picture shows the British fast fashion e-commerce ASOS
It seems that Forever 21 is still frantically opening the store. With Boohoo, ASOS, Missguided and other fashion e-commerce companies springing up, the market will either fight for design or fight products, and eventually fight for speed.
But what are the advantages of Forever 21? Speed ​​and creativity are weaknesses.
Source: Fashion Headlines
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