Many things are true about the retail industry, but saying that malls are a boom town for traditional big box stores is certainly not one of them.
The fact of the matter is that malls have been something of a death sentence for stores that occupy larger spaces and rely primarily on foot traffic from mall customers to support their bottom lines.
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It's not all the fault of covid either. While the pandemic certainly accelerated the decline of shopping centers across the United States, that trend had actually been going on for quite some time before any of us really knew what the coronavirus was.
Thanks to rising prices, the growing popularity of online shopping, and market saturation, shopping malls across the country were quickly looking more like something out of a zombie apocalypse movie than the shining, booming beacon of capitalism more closely. associated with the 1980s.
Of course, with the onset of the pandemic, even more shopping centers began to falter, taking their high-rent tenants with them. Everyone from shopping center operators like Simon Property Group (AAP) Even iconic big companies like JC Penney and Macy's are beginning to falter, and hushed words about bankruptcies and store closings echoed through increasingly empty hallways.
Forever 21 has had several difficult years
One such retailer that struggled during the pandemic was Forever 21, a discount clothing store dedicated primarily to younger women. In the 2010s, Forever 21 was loved for its cheaper-than-cheap crop tops, sundresses, and accessories. But when people stopped going to malls (and in 2020, when people stopped going anywhere), sales came to a screeching halt.
The retailer filed for Chapter 11 bankruptcy in September 2019, closing stores and ceasing operations in 40 countries. In early 2020, it sold $81 of its remaining assets to Simon Property Group, Brookfield Properties and Authentic Brands, determined to focus more on its core US operations. A month later, it closed its stores due to Covid.
Forever 21 back from the dead
Since the acquisition (which Brookfield exited), Forever 21 has been busy rapidly reinventing its name. He is associated with renowned designers such as Herve Léger and highly successful cultural phenomena such as Barbie.
And on April 24, the mall retailer announced it would be launching its own bridal line, signaling its intention to diversify beyond clothing aimed just at teens or the 20-something bar scene.
The introductory collection features 22 individual styles intended for both the bride and her bridesmaids. Some of the pieces in the line include:
- Dresses
- Hair Accessories
- Swimsuits and lingerie
- Shape wear
- Pijama
- cowboy hats
- Jewelry and accessories
- Shoes
- Handbags
Items range in price from $8.99 to $47.99 and sizes from XS to XL.
Most items are informal or intended for wedding-related activities such as bridal showers, bridal showers, receptions, and more informal ceremonies.
Bridal appears to be the future for more than one mall retailer. In early 2023, Abercrombie & Fitch (ANF) said she would launch her own bridal line, with a line of about 100 dresses and accessories with a price range of $70 to $200.
