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Fast fashion: 1. Environment: 0. Shein and Forever 21 are joining forces in a deal that will expand their reach and influence in the retail world.
Forever 21, Inc. Forever 21 is a multinational fast-fashion retailer headquartered in Los Angeles, California, United States. Originally founded as the store Fashion 21 in Highland Park, Los Angeles in 1984, [3] [4] it is currently operated by Authentic Brands Group and Simon Property Group, with about 540 outlets.
The company gained popularity in mid-2000s to the 2010s for its low prices and quick turnover of inventory. Forever 21’s sales peaked in 2015, earning $4.4bn in global sales that year.
The company was purchased by competitor Forever 21 out of bankruptcy in 2005, with its stores either closed or converted to F21 formats. Gantos – a women's specialty clothing retailer based in Grand Rapids, Michigan .
Forever 21’s parent company Sparc Group announced on Thursday that it will partner with the online shopping giant in a deal that would see Sparc become a minority shareholder in Shein. In turn ...
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