Strategic Planing for Competitive Advantage

Forever 21 is growing rapidly in the United States and also worldwide. In fact, it is the most popular retailer in United States. Forever 21 became a major threat for most of the other industries in our society. For example, it is a big threat for H&M, Charlotte Russe, etc. According to Analysts Lorraine Hutchinson, Paul Alexander, and Jessica A. Lebo at Bank of America, Forever 21 is the most competitive retailer in the United States. Furthermore, they stated that the other retailers should pay attention to the growth of Forever 21. The analyst Lorraine Hutchinson said that, "Forever 21 is becoming too big for the other retailers to ignore. At the size, rapid growth could have ripple effect on the other retailers as Forever 21 takes more share" (Lorraine Hutchinson 1). According to Bank of America, the estimation of the company's sales is $3.5 billion dollars. They have a large number of teens and young adults customers from ages 13-25. 

NPS- Net Promoter Scores

Forever 21 has a great strategy to get customers. Their motto is "Always changing and always in style". Forever 21 is a company where they sell the latest style of clothing and accessories at an affordable price. This company brings fashionable clothing and styles from all over the world. Forever 21 is inspired by Asian, European, and American style of clothing. People can relation to the style and the clothing because they have varieties of options to choose from. Forever 21 seeks for the customers who wants latest style from runway at a reasonable price.

History and Mission Statement

Forever 21 is an American clothing retailer. It has branches spread out nationwide and worldwide. The Forever 21 stores are located almost in every major cities in America, Europe, Asia, and Middle East. Forever 21 offers fine clothing, accessories, cosmetics and shoes for young women, men, and teens. The clothes imitate Asia, European and American fashion trends. The retailer is originally known as Fashion 21 and it was mainly opened to offer clothing for kids and teenagers. The store was founded by Do Won Chang and his wife Jin Sook Chang in 1984. The first store was opened in Los Angeles California by the couple. As time went by, Forever 21 operated successfully in California and decided to open stores outside of the state. In 1995, Forever 21 opened their first store outside California, which was located in the Mall of Americas in Miami Florida. By 1997 Forever 21 opened more than forty store in the United States. After the successful business in the nation, the retailer opened it's first store outside the U.S in November 2010. 

 

Forever 21 has a mission to bring fashion to everyone. Their mission is to provide shoppers with the latest style and trend with affordable price. The retailer's motto is "Always changing and always in style".

always changing and always in style

always changing and always in style