Following the closure of its e-commerce in China, reported on Thursday, American fast-fashion retailer Forever 21 confirmed exclusively to FN’s sister publication WWD that it has decided to exit the market entirely on Friday.
A spokesman from the company said, “Forever 21 is constantly evaluating our global portfolio of stores and made the decision to close our operations in the China market after careful consideration of shifts in consumer demands and the long-term profitability of these operations.”
The retailer, founded by Korean-born Do Won Chang and Jin Sook Chang in 1984, entered the Chinese market in 2008 but left shortly after. It reentered in 2011 and opened its online store and multiple brick-and-mortar stores.
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