Forever 21 To Shut Chinese Online Stores | CashKaro News Network

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Forever 21 To Shut Chinese Online Stores

The renowned fashion retailer, Forever 21, is looking to close its online operations in China. Tmall and JD.com have released official statements on their website, indicating the closure of Forever 21 at their platforms. This change takes place from April 29th. However, it is still dubious whether the store will continue functioning its offline stores in the Chinese mainland. The company was operating in China since 2011 and has 11 locations listed on its website. The reasons for this decision relate to the cut-throat competition that prevails in the Chinese market. According to Sina Financial,  Forever 21’s decision to quit the online retail market in China is largely influenced by its current ‘marketing strategy’ and ‘brand positioning’ within the country.

The news of its shut-down came soon after the retailer announced its plans of downsizing its business in the UK. Before suspending its online operations in China, however, the store placed its products on massive discounts for the customers.

Source: insideretail.asia

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