Forever 21 Looks to Enter UK Market
Posted on May 28, 2009Forever 21 is ready to take its successful concept to the UK beginning with a big store on Londonís Oxford Street. Draper's reports that Forever 21 will face a strong challenge from retailers like Topshop, Primark, New Look, H&M and Zara in UK's lower-priced apparel market.
While Forever 21's entry to today's gloomy UK high street may brighten the market, the retailer will have its work cut out in carving a niche in the UK, one of the world's most competitive markets. Fast fashion at the lower end of the price spectrum is well established, with the likes of Primark, New Look, H&M, Zara and Topshop leading the way.RetailWeek says Forever 21 wants to start with four stores in London. RetailWeek also says the ever-expanding fast fashion retailer is also eyeing Thailand for stores this year and Japan within the next two years.
Management Horizon's Edward Whitefield says: "This move to Europe has been five years in the making. The retailers it is likely to hit will be core competitors New Look and H&M, while the price points will be close to H&M. Forever 21 has its own design team and like H&M it relies a lot on driving design and sourcing in lower-cost markets."
Whitefield says the US retailer will have to improve its in-store experience to compete in the UK. "The Forever 21 product is better than its store design, which it will have to think about, as we [the UK] have some smart shop designs which add value for the shopper."