×
301
Fashion Jobs
PUMA
Executive, Sales
Permanent · Hong Kong
VF
Senior Finance Analyst
Permanent · 香港
VF
Assistant Regional Merchandising Manager - Men Apparel
Permanent · 香港
VF
Senior Manager, Global Supply Planning
Permanent · 香港
VF
Senior Financial Analyst
Permanent · 香港
VF
Sales Executive (6-Month Contract)
Permanent · 香港
VF
Merchandise Manager
Permanent · 香港
VF
Assistant Finance Manager – Tnf hk & Distributor
Permanent · 香港
VF
Assistant Finance Manager, Product Pricing And Margin
Permanent · 香港
EASTWOOD CONSULTANTS LIMITED
Regional Assistant HR Manager, c&b
Permanent · Hong Kong
PUMA
Manager Fabric Development
Permanent · Hong Kong
BESTEAM PERSONNEL CONSULTANCY LTD.
Garment Technician Trainee (Activewear / Sportswear)
Permanent ·
CONNECTEDGROUP LTD
Product Manager (Fashion &Amp; Hardgoods)
Permanent · KWUN TONG
CONNECTEDGROUP LTD
Global Sustainability Manager (Textile)
Permanent · KWUN TONG
BESTEAM PERSONNEL CONSULTANCY LTD.
Senior Business System Analyst
Permanent ·
NIIN
Merchandising Allocator
Permanent · HONG KONG ISLAND
BESTEAM PERSONNEL CONSULTANCY LTD.
Merchandising Manager (Beauty Team)
Permanent ·
BESTEAM PERSONNEL CONSULTANCY LTD.
Senior Merchandiser / Merchandising Manager
Permanent ·
BESTEAM PERSONNEL CONSULTANCY LTD.
Retail Operations Manager (Station in Kuala Lumpur, Malaysia)
Permanent ·
BESTEAM PERSONNEL CONSULTANCY LTD.
Divisional Manager – Administration
Permanent ·
BESTEAM PERSONNEL CONSULTANCY LTD.
Production Director/Factory Manager - Garment (Station Vietnam)
Permanent ·
BESTEAM PERSONNEL CONSULTANCY LTD.
Sales Executive/Merchandiser (Garment)
Permanent ·

Forever 21 continues heavy restructuring, exits Japan

Translated by
Jennifer Braun
Published
today Sep 26, 2019
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

American fashion chain Forever 21 announced on Wednesday its exit from Japan, scheduled for late October, which will include 14 store closures and the exit of its local online store.


Forever 21


Since being on the verge of bankruptcy for months, the company, which once rode the popular wave of 'fast-fashion', is not only suffering in Japan, but also in the United States, where physical retail has slumped, hurt by the explosion of e-commerce. In the U.S., as in the United Kingdom, the brand, however, is quickly cutting back its store count with 100 closures planned domestically.
 
Furthermore, Forever 21 has also pulled out of some markets all together. Notably, in Ireland in 2018, but also in France, where it stopped its operations at the beginning of the year. Ten or so French stores, including its Parisian flagship on rue de Rivoli, have been closed. Forever 21 also announced in the spring that it will cease operations in China.

Targeting a young clientele, Forever 21's Japanese stores are located in the trendy areas of Tokyo (Shibuya, Shinjuku), Yokohama, Osaka, Fukuoka and Sendai. For a few months, there was even a Forever 21 location in Ginza, the most expensive district in Tokyo where luxury brands such as Armani, Louis Vuitton, Chanel, and more are located.
 
In Japan, staff costs and rents are very high, mainly due to a shortage of distribution labor and the need to be present in the same area as competitors. 
 
Although once threatened by foreign brands of the same type like H&M, Zara, Gap, and Japanese clothing giant Uniqlo, Forever 21 had managed to stand out by raising the quality of its clothes and by focusing on 'fashion basics', which stay in style longer than 'fast fashion', by definition.
 
At the international level, Forever 21 was most recently trying to negotiate new financing, but is also considering filing for bankruptcy. Founded in 1984, the brand currently has more than 800 stores worldwide.
 
(Writing with AFP)
 

Copyright © 2020 FashionNetwork.com All rights reserved.