Forever 21 Returns to U.S. with New Partners and Kidswear Expansion
Authentic Brands Group (ABG) is reviving Forever 21 in the U.S. after its second bankruptcy in 2023. The brand will return with new partners and operators, including Kidz Concepts for kidswear and Unique Brands for e-commerce and men's wholesale.
Forever 21's U.S. operating company filed for Chapter 11 bankruptcy in March 2023, marking its second bankruptcy since 2019. The bankruptcy led to the closure of all U.S. stores. However, ABG, Simon Property Group, and Brookfield bought the brand out of bankruptcy in 2020 for $81 million, saving the online retail and wholesale operations.
ABG has since found new operators for the brand. Mark Edwards Apparel now runs women's wholesale, while Unique Brands will manage U.S. e-commerce and men's wholesale. Additionally, Kidz Concepts will be the brand's U.S. partner for kidswear. ABG's CEO Jamie Salter has expressed regret over the acquisition of Forever 21, but the company remains committed to reviving the brand.
Forever 21's return to the U.S. market is imminent with new partners and operators. The brand's online presence and wholesale operations will continue to grow, and the addition of Kidz Concepts for kidswear expands its product range. Despite past challenges, ABG is dedicated to rebuilding Forever 21's popularity and success.
