Forever 21

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Forever 21 Student’s Name Institutional Affiliation Forever 21 is an internationally recognized brand famous for its specialization in teen wear that goes for a conveniently low price. The 31-year-old company has had little struggle building its brand identity compared to other competing youth-oriented retailers and instead Forever 21 has recorded steady growth both in revenue and outlets. The firm has a remarkable expansion strategy but simultaneously has numerous scandals that this paper analyzes. Forever 21 utilizes a “Fast-Fashion” model in which it gets new fashion trends into its stores as quickly as they emerge and ensures to retail them at a relatively low price compared to its competitors. The company’s fast fashion model gives it a competitive advantage such that while other competing retailers spend a considerable amount of time trying to build their brand name using a signature look, the model allows Forever 21 to stock and retail trendy wears as fast as they come. Additionally, Forever 21 has a low-price strategy whereby, the company sells its products at low costs (Bhasin 2013). The firm’s main target group is for consumers that are fashion-conscious but whose economic status cannot allow them to purchase designers wears that are usually too expensive to afford. Additionally, the company’s primary target market involve young adults aged between 18 and 24, an age-group identified with its love and consciousness for fashion, which is similar to other competing retailers (Forever 21 n.d). This target market is moderately huge and is responsible for the rapid growth Forever 21 has recorded since its foundation. Another expansion

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