The Reset Button Pushed By Forever 21
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Case Code: BSTR600 Case Length: 19 Pages Period: 2019 Pub Date: 2020 Teaching Note: Available |
Price: Rs.500 Organization: Forever 21 Industry: Retailing Countries: United States Themes: Bankruptcy & Turnaround Management, E-Business Strategy, Restructuring |
Abstract Case Intro 1 Case Intro 2 Excerpts
Company Background
Forever 21, a fashion retail brand headquartered in Los Angeles, California, was started by a South Korean immigrant couple, Jin Sook Chang (Jin Sook) and Do Won Chang (Do Won), in the year 1984. The couple had emigrated from South Korea to the USA in 1981 with hopes of making good money. For three years, Jin Sook worked as a hairdresser and Do Won as a janitor, pumping gas and serving coffee to make sure their daily needs were met. They initially wanted to enter the coffee industry but soon realized that it wouldn't give them the kind of success and profit they were dreaming of. During his struggles in the US, Do Won noticed that people with the nicest cars were all in the garments business. This observation motivated the duo to enter the fashion retail business...
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