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Fab or Miz: Forever 21's Story

by Tia on February 1, 2011

in Fab or Miz?

I was sort of sucked into an article which lead to today's post.  It was about Forever 21 and was published in the Bloomberg Business Report last week.  I have not stopped thinking about it.   The article was titled, "Forever 21's Fast (and Lose) Empire" (by Sue Berfield) .  The article is FASCINATING!   I started by skimming it but was quickly sucked into the fantasy. 

For those of you who are not familiar with this brand, it is cheap-chic teen retailer.  Forever 21 takes looks from the runway and sell a VERY similar product for a fraction of the cost.   They sell a range of products – handbags, clothing, and accessories.   The majority of their looks are "stolen". 

I have bored you before about my feeling on designers being copied and "stolen" IP rants before.   These products are criminal – period.  All of you buying handbags and jewelry, that are copies of LV's, Chanel, Tiffany's, and etc at parties, are committing a crime.  You are buying stolen property and supporting a black market industry that has substandard work environments and that lacks any regulation.  BUT – that is not the part I thought was fascinating.  

What I loved about this article is that it is really a modern day fairytale.   The article gives the story behind the mess – how this fast growing company was started by two people (Do Won and Jin Sook, or Mr. and Mrs. Chang) who knew NOTHING about retail, grew a little shop into a major corporation, how F21 repeatedly gets sued and loses – yet is still standing and  growing.  Ms Berfield talks about how The Chang's have managed to keep their company's warehouse private and their company all in the family!   Cinderella – move over!

It’s great!  Read it – tell me – fab or miz??!!!!

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