Who Owns Forever 21?
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, it is currently operated by Authentic Brands Group and Simon Property Group, with about 540 outlets. The brand operates stores in multiple countries. As of May…
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, it is currently operated by Authentic Brands Group and Simon Property Group, with about 540 outlets.
The brand operates stores in multiple countries. As of May 2022, Forever 21 operated over 600 stores, including, as of July 2022, 407 U.S. stores in 43 states, with the highest densities in California, Texas, Florida, New York, Georgia, New Jersey, Pennsylvania, and Illinois. The original store in Los Angeles remained in operation until 2020, bearing the chain’s original name.
Who Owns Forever 21?
Originally known as Fashion 21, the store was founded in Los Angeles on April 16, 1984, by Do Won Chang and Jin Sook Chang, married immigrants from South Korea. The original 900 square feet (84 m2) store was located at 5637 N. Figueroa Street in the Highland Park district of Los Angeles.
Funded with $11,000 in savings, designs similar to those seen in South Korea were sold to and targeted at the Los Angeles Korean American community. Merchandise was acquired at wholesale closeouts from manufacturers. with sales totaling $US 700,000 in the store’s first year of operation. The Changes later changed the name Fashion 21 to Forever 21 and changed the business model to fast fashion, drawing from trending fashion and selling the items for low prices.
