The US fashion retailer is said to be in talks with landlords
Credit: Hans Olav Lien via Wikimedia Commons
US fashion retailer Forever 21 is reportedly considering downsizing some of its stores, according to the National Real Estate Investor.
The website reported that ‘multiple sources’ had hinted that the retailer is talking with landlords about scaling back on the size of some of its stores, which are well known for being large and stocking a wide variety of goods. Alongside clothing, the retailer also sells its own-brand cosmetics, called love & beauty by Forever 21.
The National Real Estate Investor reported that Terrison Quinn, a Vice President with Colliers International’s retail services group, said: "Forever 21 is doing what a lot of retailers are doing – recalibrating the size of their existing stores and rolling out new supplemental concepts to attract new customers."
Forever 21 has plans to open 600 new stores in the next three years and has approximately 600 stores across the world.