Los Angeles-based fast fashion retailer Forever 21 will bring its less expensive F21 Red concept to Canada, with its first stores set to open in 2015. F21 Red launched its first store in suburban Los Angeles in May of this year.
Four Canadian F21 Red locations will open next year, according to the retailer's Canadian broker Jeffrey Berkowitz of Aurora Realty Consultants Inc.. F21 Red will feature 'trend led' stapes of the Forever 21 line plus 21Men, Forever 21+ and Forever 21 Girls.
F21 Red seeks retail space in the 10,000 to 18,000 square foot range, according to Aurora Realty.
When F21 Red launched its first location in South Gate, California in May, its press release indicated that it would sell camisoles for $1.80 and jeans for $7.80, along with men's t-shirts for $3.80 and plus-sized leggings for $5.80. We're unaware of its Canadian pricing, though if it's similar to that in the U.S., its clothing will be among the least expensive available in Canada.
Founded in Los Angeles in 1984, Forever 21's first location measured only 900 square feet. It has grown substantially with sales in excess of $3.7 billion in 2013, employing over 30,000. Remarkably, its founders now have an estimated net worth of $5.1 billion. Forever 21 has almost 500 U.S. stores and operates 31 Canadian locations coast-to-coast.