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Transcript of FOREVER 21
Fashion 21 began in a 900 square ft. store in Los Angeles.
Since Fashion 21 was a success, the founder would constantly open new stores every six months where it was eventually changed to Forever 21.
Forever 21 has been sued at least 50 times for "borrowing" from designers like Diane Von Furstenberg and Gwen Stefani.
This store has a chain of clothing retailers with branches in The U.S, Canada Puerto Rico, Europe, Asia, and the Middle East.
Is a privately held company. Target Market Demographics
Male and Female
Forever 21 locations in the US, Canada, China, Europe, Asia, and the Middle East. It does not have intensive market coverage. It has selective market coverage where stores can be located in the city and rural areas.
social, outgoing, creative, active, trendy young adults, leisure time consists of shopping or hanging out with friends.
Products vary... always new styles and trends. Products are moderately priced therefore more consumers can buy from there. Store Image The ambiance you get when entering the store is neat, organized, retro looking yet fancy at the same time. Competition One of Forever 21 main competition is H&M, Urban Outfitters and Charlotte Russe.
Direct: Charlotte Russe, and Papaya.
Indirect: Francesca Boutique.
Vertical: Forever 21 competes with prestigious designers in copying their "inspiration".
Lifestyle: Everyday clothing varying from daytime and nighttime and casual to formal.
Strengths: Pricing power, cost advantages, technology, customer loyalty, brand name.
Weaknesses: High staff turnover, weak supply chain, tarnished reputation, weak management, cost structure.
Opportunities: Fragmented market, online market, new products, new markets.
Threats: Bad economy, intl competition, intense competition volatile costs, volatile revenue, substitute products. Product Strategy of The Store Current fashions at greatest value, expand their depths of product selection by offering their customers a wider mix, dedicated lines with different product categories.
Forever 21 has a broad product strategy.
Assortment breadth: Forever 21 has numerous different item categories of classification.
Assortment depth: In Forever 21 there is a numerous amount of quantity of each item available in the assortment of goods offered to customers.
Place Strategy People Strategies What Forever 21 look for in employees are those who have a good sense of style, who are friendly, outgoing and for people that can handle any situation.
Hiring practices: Forever 21 trains their employees to know how to place their products around the store, fix and fold unorganized clothing and they make sure their employees know how to treat customers well. Promotional Strategy Merchandise within the retailer Hardlines/Softlines: No hardlines; clothing
Women's Apparel Classifications: Skirts, Shirts, Dresses, Pants, Undergarments, Shoes, Jackets, Active wear
Women's Styles: Trendy, fun, casual and formal
Men's Apparel Classifications:Shirts, Pants, Shoes, Jackets
Men's Styles: Trendy, casual
Children: Shirts, Dresses, Pants, Skirts, Jackets
Accessories: Necklaces, Bracelets, Earrings, Rings, Sunglasses, Purses, Headbands, Makeup, Scarfs Site Location: Location of a store can be normally found in shopping centers for example Mall of Georgia, or it can also be found in the streets as for example the huge Forever 21 in Times Square.
Cluster: found in mega malls
Exterior: the way Forever 21 is displayed to the public is by having many windows to show customers their products. Ads