As many people know, Forever 21 is my favorite retailer and I frequent their stores about once a week. What many people don't know, is the information and background involved in Forever 21's success.
Forever 21 was started by Do Won (Don), who is the CEO, and his wife. The first store was opened on April 21, 1984 in Los Angeles, CA. It was originally opened under the name of "Fashion 21", and later changed to Forever 21 after many other stores were created (hoovers.com). By the end of the first year that Fashion/Forever 21 stores were opened, the sales has risen from $35,000 to $700,000. Now, the revenue from the year 2007 is much higher, at approx. $1,300 million! (forever21.com)
In 2005, there were about 355 stores opened nationwide under the names of Forever 21, Forever XXl, and For Love 21 (answers.com). The number of stores is constantly increasing, as the demand for their cheap and chic clothing also increases. Their main competition is the other stores designed for teenagers and young women, often found in malls. Some of these include Charlotte Russe, Wet Seal, and H&M. (hoovers.com)
(image on top right, from http://www.pluscontracting.com/images/455_F1.jpg)
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