The India operation of Forever 21, the US-based fashion chain that filed for bankruptcy, will continue as the local franchisee of the brand plans to operate the stores here.
Aditya Birla Fashion & Retail (ABFRL), the franchisee of the Forever 21 chain in India, said it does not plan to shut any of its retail outlets, including the one at South City Mall in the city.
“Forever 21’s India business is run as a franchisee operation by Aditya Birla Fashion & Retail Ltd. The business operations of the brand will not be impacted in any way by its restructuring underway in the US,” a spokesperson for ABFRL said.
While speaking to Newsd, Forever 21 representative confirmed that the stores across India would remain operational, bankruptcy.
In recent years have seen a shift in consumer taste who are more interested in online stores. The fast-fashion retailer has also been more vulnerable than some other chains because of its large presence in major malls, which are attracting fewer shoppers there.
The brand has now joined other US fashion retailers seeking bankruptcy protection such as Barneys New York and Diesel USA, while they face stiff competition from online retailers.
Forever 21, a trendy and affordable fashion brand, competes with international fashion labels such as H&M and Zara globally and in India. There are about 10 Forever 21 stores across India.