The successful US fashion store has opened in Birmingham’s Bullring centre and London’s Oxford Street. Its business model is to sell cheap, fashionable clothes in large volumes. Today there are 453 stores in the USA and the flagship store in New York attracts almost eight times as many visitors per day as the Statue of Liberty.
The company paid £14 million for the lease on the former HMV store opposite Bond Street tube station and has spent millions more on fitting it out. Bringing in a new brand to an already congested and competitive high street will certainly be a challenge — especially when stores such as French Connection are slashing prices by 75% and Jane Norman has gone into liquidation. However, Forever 21 has a USP in that it constantly brings in new styles — typically between 10 and 100 each day. It is hoped that this rate of stock turnover will bring in customers more frequently, something that rivals Zara have long attributed to their continued success. Forever 21 plans to open another four UK stores in the next 12 months.
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