The Reset Button Pushed By Forever 21

The Reset Button Pushed By Forever 21
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
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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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