On late September, fashion retailer Forever 21 had reported their bankruptcy but also stated that their Philippine branches are not affected by the shutdown.
As experts declared, the fashion magnate went to file a Chapter 11 bankruptcy because their main competitors are going into the supercharged online business and that Forever 21 had too many stores put up.
However, according to the Business Insider, aside from the bankruptcy rooting from a ‘series of missteps,’ the fashion retailer failed the most in appealing to most Gen Z shoppers.
Apparently, the Gen Z age group were looking for clothing that are not only affordable but also sustainable As well as the fact that this age group has took to reselling and thrift shopping which has squashed Forever 21’s ‘fast fashion.’
“They want to have more autonomy over the way they put themselves together, more so than they get from a place like Forever 21,” Alexandra Sargent Capps, a Vanderbilt lecturer stated.
Reportedly, there is a recent explanation from YPulse stating how Forever 21 failed. The ‘fast fashion’ brand flopped in the 13-30 age group and overall, the brand “has seen the steepest declines.”
“People walk into Forever 21 and are shocked by what a mess some of the stores are in, just masses of clothes that are so unappealing, so cheap and so generic that they don’t seem like something people would want to purchase,” Capps continued.