Forever 21 is refocusing its international business online in markets from Canada to Asia as it closes many of its stores in those markets.
The fast fashion retailer, ranked Top50 in IRUK Top500 research, is currently closing stores around the world including its three UK outlets as part of its move to file for Chapter 11 bankruptcy - a mechanism that protects retailers against creditors – in its home US market. Closing down sales that started in the UK stores in October are now in their final days.
Most of Forever 21 stores in Canada and Asia are also closing as the retailer focuses on its multichannel business in the US – but the retailer is to continue shipping internationally through its US website and is now working with Global-e to on its cross-border ecommerce service.
Alex Ok, president of Forever21, said: “Ecommerce forms a large chunk of the profitable core of our operations and as part of our new global strategy, Forever 21 will leverage Global-e’s technology to offer international customers an outstanding online experience. To engage digitally savvy consumers today, retailers need to invest in creating a unique online experience that speaks directly to the shopper.
“With the continued increase in demand from international shoppers for our brand, we recognised that an advanced global online shopping experience is a fundamental part of our future growth. The seamless localised shopping experience our consumers around the world can now enjoy is a vital milestone in our mission to use the latest retail technology to bridge the online gap between the convenience of ecommerce and the local experience of in-store.”
Kevin Diamond, head of global ecommerce at Forever 21, said: “Being able to offer our consumers a sophisticated online experience, tailored to their shopping preferences, wherever they are in the world, is a key priority for us. With Global-e, we can confidently optimise the user experience and align our international offering with our global business needs and goals. We are excited to launch our renewed international online store in Canada, APAC and LATAM and provide our customers in these markets with the very best online shopping experience.”
Matthew Merrilees, Global-e chief executive, North America, said: “The global ecommerce market represents an enormous growth opportunity. Over 60% of Australian online shoppers and more than 80% of Canadian online shoppers are now purchasing from international retailers, and we’re also noticing a growing trend towards cross-border ecommerce from a variety of markets across APAC and LATAM. Brands like Forever 21 understand that in order to boost global sales, it is crucial to create an online presence that is fully localised to each individual market. Not only does this create a seamless shopping experience that feels familiar to the consumer, but also ensures that brands like Forever 21 continue to uphold their famously high standards of customer service.”
Image courtesy of Forever 21/Global-e