Forever 21 Lied to Us
Does anything really last forever? Our entire existence revolves around the idea of life and death. Not to sound too gloomy, but everything is bound to die off at some point. That’s why Forever 21 was really setting themselves up for failure from the beginning.
The company is $500 million in debt after losing 20-25% of their sales in 2018 and has filed for bankruptcy as the retail apocalypse continues to take out brick-and-mortar stores throughout the world. Forever 21 was one of the first to use a “cheap, fast and trendy clothing” business model, but online stores quickly took over and began pumping out cheaper and trendier clothing. Just like animals evolve to survive, businesses must do the same to best fit their customers’ needs.
- SOURCE: Business Insider
- BRANDS: Forever 21
- WHY YOU WILL LOVE IT: You’ll never have to walk into a messy, anxiety-inducing Forever 21 ever again.