Forever 21
 |
|
| Private | |
| Industry | Apparel |
| Founded | April 21,1984 |
| Founder | Do Won Chang |
| Headquarters | Los Angeles, California, U.S. |
|
Number of locations
|
723 (As of August 2015) |
|
Key people
|
Do Won Chang (CEO) |
| Products | Clothing, accessories |
| Revenue |
 US$4.4 billion (2015) |
| $124 million (2011) | |
| Total assets | $1.40 billion (2011) |
|
Number of employees
|
30,000 (2012) |
| Website | www |
Forever 21 is an American fast fashion retailer with its headquarters in Los Angeles, California. Forever 21 began as a 900 square foot store in Highland Park, CA in 1984, and has grown into clothing lines Forever 21, XXI Forever, Love 21, and Heritage throughout over 600 stores in the Americas, Asia, the Middle East, and the UK. More than 60% of its apparel is made in China and the average store size is 38,000 square feet. Forever 21 is known for its trendy offerings and its low pricing. The company sells clothing, accessories, and beauty products for women, men, and girls. The company has been involved in various controversies, ranging from labor practice issues to copyright infraction accusations to religion. The clothing ages from toddler to grownup, for kids and adults. Forever 21 is the 5th largest specialty retailer in the United States.
Originally known as Fashion 21, the first Forever 21 (Fashion 21) store was founded in Los Angeles, California on April 21, 1984 by husband and wife, Do Won Chang and Jin Sook Chang. The store is located at 5637 N. Figueroa Street in the Highland Park district of Los Angeles and is still in operation, bearing the chain's original name. Designs similar to those seen in South Korea were sold and targeted to the Los Angeles Korean American community. In its first year in operation, sales totaled $700,000, and by 2013, there were more than 480 stores and revenue of $3.7 billion. And as of February 2014, Forever 21 generated a revenue of $3.8 billion. Originally, Forever 21 only sold clothes for women, but later expanded to sell menswear. Most Forever 21 stores now sell clothes for both men and women.
As of July 2014, the U.S. Department of Labor's Occupational Safety and Health Administration (OSHA) has recommended fines in excess of $100,000 for three different retail locations in Northern New Jersey and Manhattan in New York City for "serious safety hazards," for which they have been cited since 2010.
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Wikipedia