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Right click takes forever2/27/2023 ![]() ![]() Even as other chains were downsizing amid the retail apocalypse, Forever 21 was opening new stores as late as 2016. That was a tactical mistake.” –Barbara Kahnįorever 21 expanded rapidly in a short period of time, going from outlets in seven countries to 47 in just six years. “Instead of slowing down on physical space, they were building up physical space. ![]() (Listen to the podcast at the top of this page.) ![]() Wharton marketing professor Barbara Kahn and Ludovica Cesareo, marketing professor at Lehigh University, analyzed the case on the radio show and outlined three distinct reasons why Forever 21 failed to stay on top. The dramatic rise and fall of Forever 21 is a story that repeats in similar fashion across the retail landscape, but there are some factors specific to the chain’s troubles. It announced that it will cease operations in 40 countries, including Canada and Japan, and close 350 of its 800 stores, including 178 in the U.S. The rapidly changing retail sector put too much pressure on Forever 21, and the privately held company filed for Chapter 11 bankruptcy in late September. The firm anticipates 12,000 closures by year’s end, eclipsing the 5,844 closures in 2018. have closed this year, according to Coresight Research. However, the couple didn’t anticipate the so-called retail apocalypse, which began in 2017 and continues to threaten virtually every retail chain. ![]()
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