As Forever 21 Files For Bankruptcy, Some People Believe The Company Got What They Deserved
On Sunday, millennial fast-fashion giant Forever 21 filed for bankruptcy, causing a stir among shoppers who have long relied on the store for cheap and fashionable clothing. The move comes at a time when brick-and-mortar retail businesses everywhere are struggling and the bankruptcy is just proof of the shifting ways people shop.
Forever 21 was founded in 1984 in the Highland Park neighborhood of Los Angeles and quickly became the go-to spot young women went to for trendy items at affordable prices. Forever 21 spearheaded the wave of giant “fast fashion” retailers like Zara and H&M. These retailers revolutionized the fashion industry by making apparel that was previously only available to fashion insiders available to middle-class women. The shop was a staple at virtually every suburban mall.
But with the ubiquity of the internet, young customers no longer went to the mall for a dose of retail therapy–they went online.
According to Forever 21, the chain will likely be closing 178 stores in the near future and will exit completely from Asian and European markets. Countless articles have been written about the rise of fashion-forward online retailers like ASOS and Fashion Nova and the subsequent decline of brick-and-mortar stores like Forever 21. It’s also worth mentioning that e-commerce giant Amazon has now entered the fray as a viable place for young women to buy clothes online. In other words, the competition is fierce. Forever 21 isn’t the only fast-fashion store that has faced problems in recent years: in 2015, popular retailer Deb shut its doors permanently, followed by Wet Seal in 2017.
While the popular retail chain is beloved by many young women on a budget, not everyone is mourning the loss of these locations.
Along with the Forever 21’s immense popularity and success has come waves of criticism–much of which has come to a head in recent years. The rise of social media has given a voice and a platform to previously voiceless critics who viewed Forever 21 as a major problem. In recent years, Forever 21 has fought off scandals involving unethical labor practices, problematic and offensive designs, and recently, an incident involving the company giving diet bar samples to plus-size customers.
Not to mention, Forever 21 part of the major environmental problems that clothing retailers are creating for the planet. Some studies indicate that the apparel industry accounts for over 8% of the “global climate impact” of carbon emissions. That is “greater than all international airline flights and maritime shipping trips combined”. For many people, Forever 21 was emblematic of face-less soul-less corporations that manipulate unknowing customers for cash and wreak havoc on the ecosystem while they’re doing it. For some people, Forever 21’s bankruptcy feels like just desserts.
Along with other early 2000s-era fashion giants (like Victoria’s Secret), it’s been hard for Forever 21 to keep with the times.
Many people believe that Forever 21 will have to completely overhaul their approach to marketing if they want to retain old customers while building a new client base. As the tides change, millennial and Gen-Z consumers are no longer want to give money to ethically dubious and environmentally irresponsible organizations. These days, young people prefer the companies they frequent to promote messages they believe in, like sustainability, body-positivity, and inclusivity. In an era when wokeness is a social currency, companies that promote a social agenda–like Third Love and Madewell–have become popular.
As for consumers’ reactions to Forever 21 filing for bankruptcy, Twitter provides a peek into everyone’s thoughts on the matter.
As is expected, the reactions run the spectrum to sadness at their favorite store being closed, to elation at the shuttering of a controversial retailer. With any polarizing landmark in pop culture comes a lot of people ready to voice their opinions.
This woman was sad that her go-to store for cheap staples is going out of business:
Forever 21 practically invented the term “ballin’ on a budget”. Now, it’s going to be harder for lower-income women to dress themselves fashionably in the same manner as before.
This Twitter user made a decent point about Forever 21’s hit-or-miss clothes:
We’ve all been browsing the racks of Forever 21 and thought to ourselves: who greenlit this design?
This plus-sized Twitter user has mixed feelings about Forever 21’s bankruptcy filing:
It’s true that (for good or bad) Forever 21 has been at the forefront of industry changes–like paying more attention to plus-sized customers, for one. Even if they’ve had some very public missteps.