Don’t forget to subscribe on iTunes, Google Play Music, or Stitcher! If you enjoy this podcast, please leave us a review on iTunes. Helps a ton!
Changing of the Guards
- Some call this a retail apocalypse – 3,500 stores expected to close over the coming months
- Better looked at as the “change state” of an evolutionary period
- Mall traffic is through the floors and the old guard fashion retailers are hurting
What’s Happening to Fast Fashion?
- Hennes & Mauritz AB said price cuts to clear inventory over the next three months may exceed last year’s, sending the shares tumbling to a four-year low.
- H&M’s inventory levels are up 30 percent year-on-year and profit will be hurt should the retailer have to offer deeper discounts
- Sales in the year to date (10-15%)haven’t lived up to H&M’s expectations, Chief Executive Officer Karl-Johan Persson said in an interview
- The Swedish company is struggling to keep pace with Zara owner Inditex, which has put a greater emphasis on e-commerce and has proved more adept at responding to shifts in consumer tastes
- The retailer said it will open its first Arket outlet in London in the fall, selling clothing and a limited range of home furnishings at prices slightly above the company’s main brand
- Arket is the company’s first new label since the launch of & Other Stories in 2014 and will include products for men.
Growth Amid the Apocalypse
- The first three F21 RED stores will open in April in key retail markets across the U.S. including San Antonio, Texas, Bronx, New York and Chicago, Illinois. New locations will continue to open throughout the year in key cities and will bring F21 RED total store count to more than seventy locations by year-end.
- A new concept store for Forever 21, Inc., F21 RED delivers a deeper inventory of the trend-led staples Forever 21, Forever 21 Men, Forever 21 Plus and Forever 21 Kids is known for carrying, at a great value to customers.
- F21 RED launched in 2014 and aims to create a convenient shopping experience for the entire family with an assortment of fashion staples from Forever 21 and its sub-brands, including Forever 21 Men, Forever 21 Plus, and Forever 21 Girls.
- Forever 21, is a fashion retailer of women’s, men’s and kids clothing and accessories and is known for offering the hottest, most current fashion trends at a great value to consumers. This model operates by keeping the store exciting with new merchandise brought in daily. Founded in 1984, Forever 21 operates more than 815 stores in 57 countries