The Californian fast fashion firm Forever 21 will resume its growth in Mexico in 2020 with the opening of a new store in the state of Sinaloa, despite its restructuring after having applied for bankruptcy protection in September 2019.
Forever 21 will join the commercial offer of Explanada Culiacán, the new shopping mall that is expected to open its doors in the first half of 2020. There, the US firm will share space with other brands such as Adidas, Studio F, Stax, Cloe, Original Penguin, Chinese Laundry, to name a few.
The opening of Forever 21 in northern Mexico, which was announced by Gicsa, is an important advance of the brand in the country after last October it closed its most important store nationwide, located in Francisco I. Madero street , one of the most important avenues in the historic center of Mexico City.
It should be remembered that last September the chain declared bankruptcy due to the increase in electronic purchases and the lack of customers in shopping centers. For this reason, the fast fashion company announced that it would initiate a restructuring project that would include closing some international locations, mostly in Asia and Europe.
In addition, at the beginning of 2020, Forever 21 unveiled a new interanational e-commerce strategy, developed by the e-commerce specialist Global-e, and declasred that they are about to launch a new “localized” website for consumers in Canada, as well as Asia, Asia-Pacific and Latin America.
Forever 21 arrived in Mexico in 2012 and has more than 30 stores nationwide.