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Forever 21's new, ultra-bargain-priced store F21 Red could be coming to a city near you. Forever 21 CEO Don Chang told WWD it's likely that more F21 Red stores are in the works, with further information about F21 Red openings to be released in the next few months. The very first F21 Red store opened near Los Angeles in May, selling basics for mind-blowingly low prices, like jeans for $7.80 and tees for $3.80. Of course, prices that low have raised questions about Forever 21's labor practices.
But F21 Red could be the driver behind Forever 21's big expansion plans. According to WWD, Chang said that the chain's "ultimate goal is to double the size of our company within the next three years." He currently operates 600 stores around the world, with 469 in America and 131 overseas. Growing to 1,200 stores could help Forever 21 compete with other fast-fashion brands. In comparison, H&M currently has 3,200 stores in 54 countries, while Zara has over 2,000 stores in 88 countries.
· Forever 21 Sets Ambitious Growth Plan [WWD]
· Why Nothing Will Stop College Students From Shopping F21 Red [Racked]
· Forever 21 Gets Even Cheaper With New Store F21 Red [Racked]