Mornings with Simi artwork

Is the collapse of Forever 21 a sign that ‘fast fashion’ may be going out of style?

Mornings with Simi

English - October 01, 2019 18:39 - 9 minutes - ★★★★★ - 1 rating
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Forever 21, the low-price fast-fashion chain, is ceasing all operations in Canada. The Los Angeles-based company announced Sunday that it has filed for bankruptcy in both the U.S. and Canada. The “wind-down” of the Canadian arm is part of plans to restructure and refocus the business. The retailer currently employs approximately 2,000 people at its 44 locations across Canada. What led to this closure, and what does it mean for the future of “fast fashion”? 

 

Guest: Reilly Stephens 

Director of Insights for Retail Prophet

Forever 21, the low-price fast-fashion chain, is ceasing all operations in Canada. The Los Angeles-based company announced Sunday that it has filed for bankruptcy in both the U.S. and Canada. The “wind-down” of the Canadian arm is part of plans to restructure and refocus the business. The retailer currently employs approximately 2,000 people at its 44 locations across Canada. What led to this closure, and what does it mean for the future of “fast fashion”? 


 


Guest: Reilly Stephens 


Director of Insights for Retail Prophet