UAE-based retail operator Sharaf Group said it was planning to open more branches of fast fashion chain Forever 21 in the Middle East and Southeast Asia.
The group opened a 12,000-square-foot store at Dubai’s Ibn Battuta Mall last week, which signals its expansion strategy across the two markets.
“We currently operate 22 stores across Middle East and South East Asia and are endeavouring to open at least three to four more doors before the end of calendar year 2022,” Yasser Sharaf, vice president at Sharaf Group, told Arabian Business.
The fast fashion chain filed bankruptcy in 2019, closing nearly 350 stores globally. It was acquired by Authentic Brands Group (ABG), which also owns Aéropostale, the following year.
The Middle East operations of Forever 21 were not affected by the US bankruptcy filing, and Sharaf Group, which also operates Sharaf DG and Cotton On, signed a long-term deal with ABG to expand its licensing rights from just clothes to additional product categories.
“Over years, Forever 21 has established a strong foothold in the Middle East and Southeast Asia and we are excited to launch the next phase of its growth in the region,” Henry Stupp, ABG’s Middle East president said in a statement.
Sharaf Group said it was investing in creating an “omni channel experience” for Forever 21 consumers, especially amid a competitive fashion industry headlined by increased digitisation.
“Brick and mortar stores will continue to remain relevant… what would matter is the in store shopping experience, the ease of shopping and speedy checkouts,” the UAE operator’s Sharaf said.
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