In case you hadn’t heard, the Korean-owned American brand is finally gracing Hong Kong with its presence, and we have all the details.
For those unfamiliar with Forever 21, think H&M with an even higher stock turnover and you’re pretty much there. This is fashion so fast it barely stops for breath – the latest trends made accessible but at prices that’ll have your bank balance breathing a sigh of relief. Cute, colourful and cheap – what’s not to love?!
Forever 21 will open its flagship Hong Kong store in the six-storey Capitol Centre in Causeway Bay (currently home to Giordano and Watsons). This prime piece of retail space will set them back HK$11 million a month, double Giordano’s current rent. According to SCMP (via Retail In Asia), this means they will have to sell four or five items of clothing at an average price of HK$300 every minute in order to turn over a reasonable profit – that’s at least 6667 items a day!
If all goes well, we imagine that Forever 21 will roll out further branches around the city, in the style of similar foreign fast-fashion labels (like H&M, Bershka and Cotton On) that have made it to our shores.