In today’s digital era, few number of fashion retailer have fallen. One of them, which was filling for bankruptcy is Forever 21. This global fashion retailer which has more than 800 outlets is reported to be near bankruptcy filing due to debt.
As reported by Bloomberg, annual income of Forever 21 had declined. Besides that, status of negotiation with number of investors for restructuring still stop running then they considering filing for bankruptcy. This United States global fashion retailer is inevitably biting fingers to face rapid development of online shopping around the world.
Store rental fees, production costs, employee salaries, all of them should be paid every month while consumers who shop and purchasing have been decreased dramatically. Not to mention marketing strategies of Forever 21 so ‘outdated’. It simply means, Forever 21 failed to make generation Z interested to buy their products, accessories, clothing, shoes, beauty care and so forth which are promoted by influencers through social media include Instagram, Twitter even YouTube.
Forever 21 is certainly not the only one retailer prepared to face bankruptcy due to declined sales. Number of popular retailers such as Nine West, Topshop, and Payless also face the same thing. However, you can still find your up-to-date clothes at three remaining outlets of Forever 21, Grand Indonesia, Lippo Mall Puri and Mall Taman Anggrek while waiting the final result of their filing.
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