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Business Wars Daily

Victim of its Own Fast Fashion Success? Forever 21 Files Chapter 11

Business Wars Daily

Wondery

News, Daily News, Business News, Business

4.6716 Ratings

🗓️ 9 October 2019

⏱️ 7 minutes

🧾️ Download transcript

Summary

Today is Wednesday, October 9, and we’re looking at Forever 21 vs. H&M.

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Transcript

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0:00.0

Wonderly Plus subscribers can listen to Business Wars daily ad-free right now.

0:04.8

Join Wonderly Plus in the Wondery app or on Apple Podcasts.

0:08.5

How do I cope with waiting for results?

0:11.6

It's all I can think about.

0:13.5

Is the cancer going to come back?

0:16.0

I can't sleep.

0:17.6

How do I stop worrying?

0:19.5

We know what goes through your head when you're living with

0:21.7

cancer. The questions, the anxieties. We understand because we've been there too. If you or

0:27.9

someone you care about has been diagnosed with cancer, McMillan Cancer supports online community

0:32.9

can help from day one. It's a free, safe, online forum for people with cancer to connect anonymously.

0:39.8

No question is too big or too small. With over 80,000 members, we get it. We've been there.

0:46.3

Whatever you need to ask, we're here. To join, search McMillan online community.

1:05.6

Thank you. McMillan Online Community. From Wondry, I'm David Brown, and this is Business Wars Daily on this Wednesday,

1:10.0

October 9th.

1:11.3

You know, sometimes the trouble with success is that it blinds you to the need for change.

1:16.5

Your strategy worked beautifully in the past, so to grow, you need to do more the same, right?

1:22.0

Well, not necessarily.

1:24.4

Consider the case of the giant fast fashion retailer Forever 21.

1:29.3

South Korean husband and wife team Do Wan Chong and his wife, Jin Su, started the business in 1981 in Los Angeles.

1:36.8

They called it Fashion 21. They specialized in producing cheap copies of heretofore inaccessible high fashion,

1:48.8

and getting it into stores in record time, hence the term, fast fashion.

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