The Fate of Forever 21
A lot is going on up in corporate at the LA Based fashion retailer, Forever 21. The go-to fashion company has had quite the buzz in the past month, as rumors of bankruptcy circulate and allegations of a lawsuit arise. So, let The Edge spill the tea while we share with you some of our favorite Forever 21 pieces.
Fortunately, the rumors that the company was filing for bankruptcy last Sunday were squashed as no filings were made. However, the rumors still linger now claiming that Forever 21 will file for chapter 11, hoping a lender will save the damsel in distress.
The company will plan to restructure its organization to strengthen its structure for the future, however this does mean though that they will shed the most unprofitable stores. This is code for: you could lose your local store.
Floral velvet mini dress
Our favorite dress for a night out, or dressed down with fun sneakers and a jean jacket.
The company currently runs 723 stores globally with 600 alone in the USA. As for the number of them will actually shed is uncertain, but Bloomberg is predicting they will close 100 or more. On the plus sid,e news of major sales could be coming soon and shedding stores might be exactly what the company needs. It feels like stores keep getting larger and larger...and let’s be honest, have we ever actually seen the whole place clean. Dropping the overwhelming square footage could potentially mean more attention and better upkeep to the most profitable ones.
The Grande–Forever 21 debacle came just a week after reports surfaced that the brand may be filing for bankruptcy and leaves the brand looking desperate to stay afloat. Grande claims that the company stole her name and likeness after walking away from a potential partnership.
Baby pink lace body suit
Forever 21 excels in basics, thats why we love these fun bodysuits to pair with any pants or skirts.
The Ariana Grande lawsuit, according to NYT Intellectual, property lawyers says Grande has a strong case and will probably win a settlement bringing up the grey line of fast fashion copying.
Allegations of copying are nothing new or unusual in the fast fashion industry. Just in the music world alone, Forever 21 has received accusations of imitating merchandise from Frank Ocean, Kanye West, and Tupac Shakur. Once the fight with Grande is over, who knows if the company may continue this but is this “norm” going to fly for much longer?
After the loss of Top Shops USA presence and increasing competition from Zara and H&M Forever 21 finds itself at a trying time. While Forever 21 has stayed true to its cheaply made, cheaply priced merchandise roots, Zara and H&M have upped their fashion game and their prices.
Flower lilac summer dress
We love this off the shoulder dress for a hot summer day or a cute coffee date.
Additionally, the brand's status of success can also be put into question when news broke of Forbes removing the founders Do Won Chang and his wife, Jin Sook from their previous billionaire's status, now claiming that the Changs are now worth $800 million each. One can only imagine how they must be feeling…*tear*.
Plans are in the works for the company to stay within the family, passed down to their daughters Linda and Esther, who currently hold senior roles in the company and are responsible for the emergence of the company’s newer Riley Rose beauty brand.
mesh shirt & glitter bralette
Perfect for New Years Eve, or a themed event, this duo set is sure to turn heads.
Forever 21 isn’t gone yet, share some of your favorite pieces from this shop and tag us at #ELONOOTD or @eloneedge for a chance to be featured.