Forever 21 has announced that it will launch about 10 collaborations a year having already launched 17 since 2016.
According to an article on Glossy, Forever 21 has announced that it will launch about 10 collaborations a year. The brand has already launched 17 collaborations since 2016 and just announced a collaboration with Pony last week.
Forever 21 isn’t quite as popular as it used to be and it’s been sued by many brands for copying including Adidas, Gucci, Puma. The selection of collaborations also varies, however, so do the brand’s customers. Vice President of Merchandising Linda Chang was interviewed last year in which she said that the brand has clothes for “all ages, genders, and sizes.”
Chang says the plan with these collaborations is to get more customers and make sure that the brand is relevant in pop culture. The collaborations get fans of other brands, celebrities, and more to buy products from the brand and hopefully keep buying products from the brand.
Chang also says some of the collaborations support issues and donate proceeds to charities. The brand will and has supported things like cancer, eduction, and more.
The brand expects to make $8 billion in sales this year compared to $4.7 billion in 2015. Chang, however, did not specifically say how much to sales are from the collaborations.
Chang says the collaborations that have been the most successful are those in music like the brand’s collaboration with Justin Bieber and Justine Skye. Although the brand usually releases new products quickly, these collaborations can’t take up to a year.
Forever 21 has 30,000 employees and over 815 stores. The brand also plans to open even more stores while other brands are closing stores. Both Zara and H&M, which are more popular than Forever 21, have had declining sales last year. Forever 21’s sales have been declining as well and the collaborations will probably make sales and profits increase at the brand.
So, what do you think? Will sales and profits increase at Forever 21? Let me know in the comments below. Also, don’t forget to subscribe to get new posts sent directly to your inbox and follow me on Facebook, Instagram, and Snapchat.
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