Why Forever 21 went Bankrupt?

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What happened to Forever 21? Why forever 21 went bankrupt?
It was the embodiment of the American dream. A migrant couple who starts from scratch and rises to the top of the clothing retail industry. But then, that dream plummets to the ground.
Forever 21 became a fixture in fashion and the wallets of twenty-something-year-olds. The clothes were fashionable and cheap, and there was a Forever 21 store in almost every shopping mall you could think of.
They were ALL OVER the world. And, with the latest fashion trends on hand, they seemed here to stay.
But Forever 21 was a controversial brand. It grew too fast and had dubious practices.
So, it’s safe to say that it rocked the world of fashion, for better or for worse. And, in 2019, it was the ever-changing world of retail that ROCKED Forever 21, so much so that the company filed for bankruptcy protection.
How did one of the world’s most noticeable fashion brands manage to get to this point? In this episode of Startup Forensics
How Forever 21 began - 1:35
The wrong growth and expansion - 3:23
Controversies - 6:09
The demise - 8:09
A look into the future - 10:20
#forever21 #startups
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25 июл 2024

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Комментарии : 176

@TrinityBigT 4 года назад

This series is so good. This channel will blow up sooner or later and these videos will have millions of views

@slidebean 4 года назад

Thank you!

@learner5140 3 года назад

6-months later....... Now the videos can't even cross 50k mark 😂😂

@harshkhandelwal9456 3 года назад

No, you are absolutely wrong!, if you think that the general population would like this content, they are busy serving the amelio's

@rahulnamboodiri6660 3 года назад

@@harshkhandelwal9456 not really. Look at cold Fusion he has a similar series but his work has a bit more quality because it's more cinematic

@caretaker70 4 года назад

Foreever 21 turned 22

@caretaker70 4 года назад

Amazing videos btw

@slidebean 4 года назад

Thank you!

@user-ei8dh5nr1s 3 года назад

Omg best comment

@peacegiver1000 3 года назад

@@user-ei8dh5nr1s lol

@Nanami_X_Higurama 3 года назад

What do you mean exactly ??! 😅😅

@kennyotsu4357 4 года назад

*Congratulations, people of Earth!* You succesfully survived year 20, now its time for *Forever 21*

@clintcountryman4849 3 года назад

LOL!!!

@max_punch 3 года назад

Hi cousin

@ANDREW-mh9ik 4 года назад

I just scrolled down looking for the "LYNJEEREE" comments!

@trishplusmama 3 года назад

😂

@saywhat4229 3 года назад

Hahaha was just gonna comment this

@thebasketballhistorian3291 3 года назад

Yeah, in these vids he occasionally pronounces one word completely different. It's how I feel like when I listen to Canadians, lol.

@ThePussukka 3 года назад

@@thebasketballhistorian3291 I think the presenter is Guatemalan originally so that's why the mistakes now and then

@Funkteon 4 года назад

I knew a girl here in Melbourne Australia who worked as a designer for Forever 21, she basically said that they were absolute crooks and would unashamedly instruct their internal design team to copy/steal other major label's designs and paid pretty terrible salaries for the huge workload they expected of you..

@blutch222 4 года назад

style of this channel: remember this for later we will talk about this in a minute don't forget about this

@SamiPuma 4 года назад

I don't mind it, I'm most likely gonna watch the whole video anyways lolol

@fitrahwibowo7402 4 года назад

exactly

@rendrasy6025 3 года назад

Usually, I don't mind that at all. But for this video, it just too much that I get annoyed mid-video. Still great video tho.

@ducks7015 3 года назад

@@rendrasy6025 they kinda said it a few too many times this video haha

@biibris9950 3 года назад

It's classic derivative ofcutting the show in a good moment and say to be continued.

@casaventura 4 года назад

5:04 😭 that’s how my dad pronounces it hahah

@glxbe 4 года назад

a friend of mine from France told me once that's how it SHOULD be pronounced but in America everyone thinks it's weird

@weblognepal 4 года назад

that's how i pronounce :P

@Ali_n910 4 года назад

@@glxbe ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-czHpg_9v4sQ.html

@pca1987 4 года назад

@@glxbe I speak French and that's not how you should pronounce it. You probably misunderstood your friend. It's not how Americans pronounce it either.

@marioriveras 4 года назад

I think the biggest fact was relying so much on physical stores. If they actually had as a big e-commerce presence as their physical ones or more. They would be doing great now!

@alfredoalcantar8691 3 года назад

Just like Blockbuster made fun on Netflix

@aprilmintacpineda2713 4 года назад

What I learned from this: 1. Aim only for the right amount of success that you and your company can handle. They're company could not handle the growth rate that they drowned in their own success and had to downsize. 2. Focus on the what is beneficial for your customers. They failed to innovate and therefore got outcompeted by online shops that their sales decreased a significant amount. 3. Treat your employees right! Controversial that damages the company's reputation also damages its revenue. Create an ideal work environment for your employees and treat them as the base o your operations.

@mehdi4704 3 года назад

I've been watching your channel for a few months, but never checked the views. I thought the videos had around a million or so views. Truly fantastic production, information and hosting. Can't wait for you to blow up

@SamiPuma 4 года назад

man I'm not gonna lie to ya'll, while it's cool finding your clothes online and what not. There's somethin special when you walk in somewhere and find the perfect thing and walk out with it

@Zvwry 3 года назад

Rarely happens anymore 😞

@denysivanov3364 4 года назад

We really see in this channel that author trying to provide best information and content. Instant sub.

@pirroc104 4 года назад

Great job Caya, love these videos. When you are in Brooklyn, come work remotely from Class & Co (you'll be my guest). Keep these up friend.

@larry5289 4 года назад

Just discovered the channel and it’s great. Love the presentation. Very strait forward

@slidebean 4 года назад

Awesome, thank you! Welcome to Slidebean!

@camillabrandao_ads 3 года назад

I have no words to say how much I love his channel. It's my absolute favourite channel here on RU-vid. Please keep it going!

@abdulrhmankhallil8254 4 года назад

All comments thank only Caya :( !! then I would like to send my thanks to the other staff behind these videos Thanks Paula,Thanks Elena for your cool animation. And special thanks to you Maria who will like my comment. huh finally thanks Cayasso. you are all awesome guys

@slidebean 4 года назад

Thaaaank youuu, Abdul. Caya and the team send a big HELLO and we’re really greatful for your shoutout! 💙

@mrgenius2058 4 года назад

What an eye-opener, thank you, sir.

@PabloPazosGutierrez 4 года назад

I really like your videos, not for the content but for the way you present. Do you have a video about planning and executing a presentation/talk? thanks!

@slidebean 4 года назад

Maybe this one is the one you're looking for! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-aMxvnonuI7Q.html

@ATHENKOSII 4 года назад

I LOVE YOUR CHANNEL BRO, KEEP GOING AND MORE ''FORENSIC''' EPISODES PLEASE, LOVE SOUTH AFRICA.

@slidebean 4 года назад

Thank you for watching! All our love back to you in South Africa!

@imdegrafic 4 года назад

Thank you! That's very good to know

@Dino-pb5mt 4 года назад

love the forensics!!!

@peterxyz3541 4 года назад

I like this series. Examining good and bad decisions

@slidebean 4 года назад

Thanks, Peter! More to come!

@Cyberscout00 4 года назад

My favorite segment!

@imoddi 3 года назад

This bran have we never had here in Norway! This is my first time I get information about this brand!

@DrAdnan 4 года назад

This was a great analysis!

@slidebean 4 года назад

Thank you, Adnan!

@customersuccessteam6745 4 года назад

Thanks man you’re such a huge blessing to me I’m the founder and CEO of Jetaga! An e-commerce startup in Lagos Nigeria.

@slidebean 4 года назад

Kudos to you and Jetaga! Thank you for watching!

@smferreiro2610 3 года назад

Will I always have to take notes watching a video of yours? :P

@deebee8844 4 года назад

I love your videos! ❤

@slidebean 4 года назад

Thank you, Dee!

@thespinachreport7419 4 года назад

Another great video! Keep up the GW

@exoticbutters2781 3 года назад

I have to check out that Lynngereee line that they sell ;)

@N22za 4 года назад

This presenter's voice is worth billions...talent

@slidebean 4 года назад

Thanks!

@basketca2 4 года назад

I remember discovering Forever 21 had a huge ass store in the rue de Rivoli in Paris; not the most expensive part of it, I think, but still. I went there and there were huge racks of clothes, it almost looked like a street market with very loud music. It was hugely understaffed (that's probably why all of the employees looked fucking pissed) and barely had any changing rooms, so you'd have to queue for a good half an hour to try on something even when the store was mostly empty. So next time I tried to see if maybe I could buy some stuff in their web site and maybe return it in person if it didn't fit. The site looked prehistoric, the pictures didn't let you see how the clothes fit, there wasn't much info on it. I gave up. This was 2015. Now there's a Urban Outfitters in its place.

@MebiManga 4 года назад

lingerie, yep

@lauriepadden2227 3 года назад

I love this channel and the narrator. What a cutie.

@damianlipinki161 3 года назад

people and channel like this have a lot of foresight after something happens :P

@spectrewashere 3 года назад

Epic! Do one on Zara please

@slidebean 3 года назад

Vote/add your favorite topics here: slidebean.com/youtube-suggest-a-video

@kmm2442 3 года назад

Very good :)

@slidebean 3 года назад

Thank you! Cheers!

@minawillander1125 4 года назад

Some of the clothes are still cute, some not. But the cute cheap stuff is really nice to find

@Giigigi1122 4 года назад

Cause, Forever 21 was established in 1984. Kept pretending they were still 21. At one point, they had a midlife crisis and realized they no longer Forever 21 🤷‍♂️

@emadrahim4969 4 года назад

Nicely done. Other chains like Gap, American Eagle and Abercrombie are also going down into that rabbit hole. Do think there still opportunities for storefront retail business, but it will have to integrate innovative online services and strong social media branding. It's the full experience that goes beyond just the clothes that this generation is looking for. Lifestyle brands that takes a 360 approach to product, customer service and technology.

@CalopsitaVanderbilt1911 3 года назад

Well, they protected their personal wealth, that’s how everybody does it.

@vijayshankar22 4 года назад

Very precisely explained !

@slidebean 4 года назад

Glad it was helpful!

@BiznessCrewAu 4 года назад

Hang on, hang on. They "scraped up" $11 000 and opened up their first store. How did they do that? Opening up a store, furnishing it, paying for utilities, stocking it with merchandise and employing staff costs waaaaaaaaaaaaaay more than $11 000. Can you give more details about where the other, say, $100 000 came from.

@rajimordecai1099 4 года назад

Please do something on startup success too. Something like fitbit.

@slidebean 4 года назад

Noted! Thanks for the suggestion!

@MrAer85 4 года назад

3:16.was a king of the ring moniker for winners.

@jithinpv542 3 года назад

It'd have been great if, the strike on the cover image was on 21.

@j4u3s2t1i0n 4 года назад

LINJEREEEEEEEE - Slidebean 2020

@mayurbhor2231 4 года назад

5.16 did he say visitor frequency of 100k people per day

@slidebean 4 года назад

Correct...!

@aaxxcdd 4 года назад

What's that word between men's and plus sized line?

@BiznessCrewAu 4 года назад

@nameless-user 3 года назад

It was the ‘80s.

@jiminfested 2 года назад

This could do with a followup with how well they fared with 2020

@momoneylessproblems9183 4 года назад

I mean here's the thing. Even after the bankruptcy and sale of their business for cheap Jin Sook and Do Won Chang have a combined net worth of $1.6B. So they sort of set out to achieve exactly what they wanted. Become filthy rich.

@trippymchippy8586 3 года назад

Please don't tell me that 'Do Won Chang' was asked to leave?

@kunalkumar3591 3 года назад

forever 21 may or may not come alive but in my opinion Clothing physical store are here to stay for a long time

@pdorism 3 года назад

Man I wish I was still 21

@MeaHeaR 3 года назад

A "Lin-jer-reee" liné 😁😁😂😂👍👍

@abyqiem8505 2 года назад

Hm.. Zara.. Pull n bear like this.. Collabs

@KwameSenecaLP 3 года назад

Grew too quickly? How many years from 1989 to 2019? 😏😤

@Hamani1999 3 года назад

@surgamudah 2 года назад

3:24 By 1989, I was born. Glad to know it 😂🤣

@dico3557 4 года назад

you say that, but you goto any place in asia and theres like 23423425 forever 21's within eyesight at all times

@95blahblahhaha 3 года назад

I had to listened to him say lingerie 3 mes just for a laugh😂😂

@khanyisilemdhluli3189 3 года назад

Forever 21 in South Africa is just ridiculously expensive..

@ribe3434 4 года назад

Greed made them fuck up.

@PearComputingDevices 3 года назад

You know, I am a Christian, I am of the faith. But you know I am full of mistakes too. People tend to take the idea of being saved as negative. No, it's a positive. My faith dictates a lot of what I do and to be a better me. But, I still make mistakes. These fokes obviously did too. But there's a lot of pressure in business that most people couldn't simply understand. If your not growing, your standing still. Retail is no different. Too many relied up on their retail stores to make it.. it sounds goofy on the surface but understandably so since we've seen a lot of ups and downs in retail. But this time it's landscape changing.

@vuxanov 4 года назад

No need to read out every word appearing on screen, we can also read. Especially the section titles, it breaks your flow and just feels awkward.

@malypavel25 3 года назад

I DON'T WANT to shop for clothes online

@thehorrendousspacekablooie179 4 года назад

I'll summarize their entire problem with just one word: 'Greed'.

@cabcalloway674 3 года назад

lin jeree

@pranavsinghal7554 3 года назад

wow just before the pandemic. it's like adding fuel to fire

@dhruvikdonga4569 3 года назад

ageing is inevitable

@ironheart191 3 года назад

5:05 - liinnngerie? regret that?

@personal5936 Месяц назад

Crazy their shutting down now lol

@mustangmike8515 3 года назад

This video is before covid 19 eran I wonder what happened in 2020 and Early 2021.

@JeffWelcherMedia 4 года назад

Family is overrated when it comes to business.

@arbolmaldonado877 3 года назад

I waiting for Google stadia

@brozomana 4 года назад

here in mexico they have the worst management and customer service...............it was literally a meme, such reputation got them hard when even with god deals people wouldnt even approach, and obviously tons of other brands appear with the same or cheaper clothing then gg izi :)

@harniti5359 4 года назад

Noooo l love forever 21

@kevinimp8217 4 года назад

2 words bain capital

@YeezyFly 3 года назад

what do they have to do with this? i find it intriguing because another huge retailer closed in South Africa and people cited Bain Capital as well.

@nintendope2976 3 года назад

Simple, people started going to Ross

@maciejkrawczyk7061 3 года назад

It seems like you can't be 21 forever

@kenny7469 4 года назад

Wrong info

@Erox006 3 года назад

LIN JERRY ?

@jessekauffman3336 4 года назад

Greed greed greed

@BrianAwesome 3 года назад

Are malls themselves just going to go bankrupt?? 😒

@jhoughjr1 4 года назад

what hell would it be to be forever 21?

@XoADREADNOUGHT 3 года назад

lmao. A "lin-jerr-ree" line. I've never seen someone mispronounce so many words. If English isn't your first language, then I apologize, and it makes more sense, but you seem to be fluent in English.

@magnoliabranca5149 4 года назад

Primark is fdping great is the american public that likes to buy online

@nathanbasset 4 года назад

Why grammar no good?

@shenanitims4006 4 года назад

RE: Forever 21 pirating Adobe. Might be a cultural hit. In Korea, no one pays for software. Similar to China, anything that can be pirated generally will. Not that that is that different from the US' population, but it is generally more publicly accepted.

@spicemasterii6775 4 года назад

Guess they turned 22

@merchantofveniceentertainm9894 4 года назад

if you get slack over being outspoken Christian or using Adobe without a license , that is unbelievably petty.

@DerDudelino 4 года назад

One of these companies no one should support - made a ton of money on the back of the poorest people you can imagine. Working in sweatshops under bad conditions. This practice has to end across the entire fashion industry.

@zusiphesikayi2390 4 года назад

True, but most Luxury brands are guilty of this.

@VenelinManchev 4 года назад

Christians promoting Christianity is something bad? Since when?

@LuxuriantCarrot 3 года назад

doesnt... forever 21 still exist?

@chrisjenkins9978 3 года назад

As long as the world has women, the world will have Shopping Malls and Charge-Cards. 😜

@priatalat 3 года назад

I don't see what's wrong with printing overused religious phrases on their clothes, they're not pushing their agenda in anyway.

@OmarAhmed-fw9uw 3 года назад

Forever 21 suffering from success.😅

@dinodino9469 3 года назад

Lol i work at 21 and we get big product every day

@48grainsoffreedom 4 года назад

Typical way to do business "Korean old-style". -Agressive expansion. -No regards for welfare and wellness for employees and workers. -Greedy as hell. -Cut corners on safety and labours. -Cheat as much as possible on numbers. -Copy if you can innovate then settle lawsuits with money. -Refusing to innovate and to take on new technologies. That was the way that 80~90's Korean companies were doing business. And this model proved to fail with 21th century exosystem. You can find it in the biggest Korean companies such as Samsung, LG, Hyundai, CJ, KIA, Lotte and so on. Fortunately, new generations of Korean companies are getting away from this business models.