Forever 21, a once-iconic name in fast fashion, is now undergoing its second bankruptcy in just five years, hindered by escalating costs and vigorous competition from brands such as Temu and Shein. Known for its innovative approach to limited-run collections that disrupted traditional apparel cycles, Forever 21 thrived for years, attracting budget-conscious shoppers. However, the brand has suffered persistent financial losses as it struggles to adapt to a changing retail environment and fend off emerging competitors that have captured its market share.
Forever 21 is navigating its second bankruptcy in five years as rising costs and competition from brands like Temu and Shein lead to financial losses.
Once a fast fashion mainstay, Forever 21's innovative approach to limited-run collections has been overshadowed by mounting challenges in the retail landscape.
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