Forever 21is a private company of American Origins. It was founded in the year 1984 by its founder Do Won Chang, the Korean immigrant. Forever 21 is a retailer chain and associated with fashion and apparel industry. The company has the distinction of being ranked at 5th position in the United States as largest retailer chain. It faces competition from brands like
Product in the Marketing Mix Of Forever 21 :
Forever 21 is a global company with a diverse range of product portfolio. It sells products like beauty products, accessories and apparel for girls, men and women. Its target customers include adults, kids and even toddlers. Clothing lines include Love 21, XXI Forever and Forever 21. Some of its products include-
- Dresses like tunic, t-shirt, party dresses, maxi, midi, mini, daywear and shift
- Tops like crop, camis, graphic, vests, t-shirts, bodysuits, high necks, check shirts, blouses and kimonos
- Jumpers and Cardigans include sweatshirts, hoodies, jumper dresses, cropped jumpers, cardigans and jumpers
- Coats and Jackets section includes faux fur, bomber jackets, parka, dusters, utility jackets, trench coats, blazers, leather look, denim, coats and jackets
- Jeans like dungarees, flare, mid-rise, low-rise, skinny and bootcut
- Leggings and trousers section has leggings, joggers, wide leg, tailored and skinny
- Shorts include denim, tailored and soft
- Jumpsuits , playsuits and dungarees
- Skirts include suede, faux leather, denim, a-line, skater, maxi, midi and mini
- Lingerie like loungewear, robes, slips, pyjamas, briefs and bras
- Tops like shirts, polos, vests and t-shirts
- Hoodies and sweatshirt
- Trousers include joggers and chinos
- Accessories include socks, underwear, beanies, gloves, hats, sunglasses, ties, belts and readers
- Brooches, pins, watches, body jewellery, rings, bracelets, earrings and necklaces like chain and chokers
- Slipper, sandals, loafers, wedges, heels and boots
Place in the Marketing Mix Of Forever 21 :
Forever 21is an American corporation and started as a store of 900 square foot in Los Angeles. Its headquarters base is in Los Angeles and with time has spread its network in several countries of the globe. Forever 21 have nearly six hundred retail outlets in Africa, Europe, America, Middle-East and Asia. Some of its important outlets are located in Brazil, United States, Costa Rica, Japan, China, Israel, Malaysia, Bahrain, Germany, United Kingdom, France, Russia, Greece, Australia, South Korea and India. The average size of every outlet is at least thirty-eight thousand square-feet.
Most of the manufacturing plants are located in China as it produces nearly 60% of the total products. In Middle-East Forever 21 has a joint partnership of 50% in its stores but in rest of countries, it has sole ownership. The company has a wide distribution network and includes vendor and supplier manufacturing services and franchise options. This has helped in distributing its products to various outlets with quick results.
Price in the Marketing Mix Of Forever 21 :
Forever 21 is all about meeting the fashion demands of its customers. It caters to the needs of its esteemed customers by supplying quality products at reasonable prices. By the year 2013 revenues of 480 stores were 3.7 billion dollars and it increased to 3.8 billion dollars by the year 2014. Forever 21 is one of the coveted brands because of its pricing policies as well as qualitative products. The company has adopted an economic pricing policy that makes its product pocket-friendly. As the prices are lower than other brands customers prefer purchasing in bulk and this has led to larger sales and revenues for the company.
Promotions in the Marketing Mix Of Forever 21 :
Forever 21 has an international presence and in order to maintain the loyalty of its customer’s company has adopted several promotional policies. It has taken help of social media to create brand awareness through platforms like Instagram, Pinterest, Twitter, Facebook and Blogs. Commercials are shown through both print and electronic media in television, billboards and newspapers. It has an active official website to provide related information that includes offers and incentives offered during the year.