Forever 21 fashion is one of the largest specialty apparel retailers in the country. The family-owned company’s stores average 38,000 square feet, making it smaller than the average department store but larger than many of its apparel competitors.
Lately, the retailer’s aggressive expansion in recent years is now causing problems. Its been reported that the company may soon file for bankruptcy and exit from Asia and Europe due to expensive leases and declining mall traffic. Although it may continue operation in Mexico and latin America.
However, its businesses in India wouldn’t get affected, Forever 21 India business is run as a franchise operation by Aditya Birla Fashion and Retail Limited (ABFRL). The business operations of the brand in India will not be impacted in any way by its restructuring underway in the US,” Alecia Pulman, corporate spokesperson for Forever 21, told HuffPost India in response to a query.
