Forever 21

Ted Baker owner Authentic Brands Group (ABG) and fast fashion etailer Shein, have signed a long-term agreement, creating a new Forever 21 sub-brand.

Chinese fast fashion giant Shein has formed a strategic partnership with parent company of Forever 21 SPARC group, a joint venture between Authentic Brands Group and Simon Property Group.

US retailer Brooks Brothers has reportedly been sold to Authentic Brands Group (ABG) and shopping centre owner Simon Property Group for $325m (£249m).

Young fashion retailer Forever 21 has re-entered the UK market with the launch of a new website, after it collapsed into administration last year. 

Former H&M US boss Daniel Kulle has been appointed as Forever 21 chief executive after Authentic Brands Group (ABG) rescued the fast fashion retailer from administration last week. 

Young fashion retailer Forever 21 has the potential to relaunch and make a “fresh start” in the UK under its new owners, the industry has told Drapers. 

Authentic Brands Group (ABG), which owns Juicy Couture, Barneys and Tretorn, and two US landlords have purchased Forever 21 for just over $81m (£63m). 

The festive season looks bleak for thousands of retail workers facing redundancy, many of whom are turning to charity for help.

Forever 21’s three UK stores, located in London, Liverpool and Birmingham, will close in the New Year, after it fell into administration. 

Fast fashion retailer Forever 21 has filed for voluntary chapter 11 bankruptcy protection in the US.