Forever 21 is filing for bankruptcy. As one of the leading retailers for fast fashion making 4.4 billion in revenue at one point, it begs the question, what happened? Business Insider explored what happened to the fast-fashion powerhouse with an easy-to-follow informative video you need to watch and share.
The Rise and Fall of Forever 21 Via Business Insider
The company’s original plan was simple. They cultivated a huge following by selling trendy pieces at low prices. It worked! The company sold trends as they were happening to make them the fastest to produce cheap, trendy wears to consumers. It led to growth and extensive expansion, which utlimately led to their downfall.
Watch the video below to get insight into why the giant chain store is filing for bankruptcy below.
According to the video, online retailers are taking over the game by bringing you even faster fashion than ever before. As e-commence sites like SHOP.COM continue to boom, retail stores just aren’t cutting it for consumers anymore.
Bankruptcy may not be the end of Forever 21, but this is still further proof that the retail apocalypse is close at hand. Businesses like ours are changing the way consumers shop and it’s making the way for a new type of retailer. What do you think of the fall of Forever 21? Let me know in the comments or tweet me @lorenridinger.
