Forever 21’s Rise And Fall: The Retail Lessons Behind Its Bankruptcy [Forbes]
Simon Property Group, Inc. (SPG)
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Source: Forbes
Forever 21's bankruptcy story is a stark lesson in the world of fast fashion retail. Founded in 1984 by Korean immigrants Jin Sook Chang and Do Won Chang, Forever 21 captured consumer attention with trend-sensitive apparel at highly competitive prices. The visionary behind this rapid rise was Jin Sook Chang, whose merchandising acumen drove the brand's explosive growth. According to Mike Appel, CEO of Forever21 competitor Rue21 from 2017-2020, Mrs. Chang's merchandising strategy was revolutionary in its simplicity: she selected every piece of merchandise personally, sourcing broadly but purchasing shallowly to maintain freshness and urgency. Larry Meyer, who served as EVP, SVP and board member at Forever 21 over a 12 year span, explained the strategy clearly: customers knew that ‘if I don't buy it today, the odds were it wouldn't be there next week and it wouldn't be there at a lower price later.” PROMOTED In remarking on how little inventory they kept, Meyer also said, every
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SPG
Earnings
- 11/3/25 - Beat
SPG
Sec Filings
- 11/18/25 - Form 4
- 11/18/25 - Form 4
- 11/3/25 - Form 8-K
- SPG's page on the SEC website