Forever 21 says goodbye to China: shuts e-commerce and breaks with JD.com and Tmall
The US company of low cost fashion will also close its flagship store in Nanjing East Road, located in Shanghai, on April 30.
Forever 21 bids farewell to China. The United States company specialized in low cost fashion has taken a step back in the Asian market with the closure of its e-commerce platform, as well as the termination of its alliance with Tmall and JD.com.
In addition, on April 30 the company will also shut its flagship store in Nanjing East Road, located in Shanghai. Since the end of last year, Forever 21 has been closing stores in several Chinese cities, Tianjin, Hangzhou, Beijing, Chongqing and Xi’an. Currently, the group only operates four points of sale in the region, spread among Shanghai and Beijing.
In 2008, the group established in China, but retreated within a few months. In 2011, the company tried it again in the Asian country and entered Tmall. Two years ago the group also left Hong Kong, with the closure of its flagship store in Cause Bay.
Validation policy for comments:
MDS does not perform prior verification for the publication of comments. However, to prevent anonymous comments from affecting the rights of third parties without the ability to reply, all comments require a valid email address, which won’t be visible or shared.
Enter your name and email address to be able to comment on this news: once you click on the link you will find within your verification email, your comment will be published.