ABFRL reopens Forever 21 store in Noida
Aditya Birla Fashion and Retail Ltd (ABFRL) marketed brand Forever 21 has reopened its store at DLF Mall of India, Noida. The launch of the store is part of ABFRL’s restructuring strategy for the American fast-fashion brand in the country.
The store is spread across 7,573 feet of retail space offering the latest collections for men and women that include a wide range of dresses, blazers, patterned blouses, gingham prints, shirts, polo’s, denims and jackets. The store will also house 21 Men brand, Forever 21’s lingerie and shoe line.
After incurring losses of Rs 23 crore (approx $3.45 million) in the fast-fashion section mainly due to Forever 21’s poor performance in the last quarter, ABFRL had decided to restructure and resize its existing Forever 21 stores to cut down on its losses.
The company is currently reducing store sizes for Forever 21 across India and has limited the number of new store openings to six to eight a year. Recently, the brand entered a new market in India with its first store in the state of Uttar Pradesh.
ABFRL is India's leading fashion retailer with 2,465 brand stores which includes 275 Pantaloons stores, 4,982 multi-brand outlets (MBOs) and nearly 4,054 point of sale in department stores across the country.
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