Chinese online fast-fashion retailer Shein has acquired a minority stake in struggling fast-fashion chain Forever 21, according to a report by the Wall Street Journal. The deal gives Shein a foothold in the brick-and-mortar retail market and expands its reach in the United States..
Forever 21 has been struggling in recent years, closing hundreds of stores and filing for bankruptcy in 2019. The company has since emerged from bankruptcy and is now working to turn around its business..
The deal with Shein is expected to help Forever 21 improve its financial position and expand its customer base. Shein, which is known for its low prices and trendy clothing, has a large and loyal customer base. The company is also expanding rapidly, with plans to open new stores in the United States and other countries..
The deal is a sign of the changing landscape of the retail industry. Fast-fashion retailers like Shein are increasingly competing with traditional brick-and-mortar retailers like Forever 21. Shein’s acquisition of a stake in Forever 21 is a sign that the online retailer is becoming a major player in the fashion industry..
**Key Points**.
* Shein has acquired a minority stake in Forever 21..
* The deal gives Shein a foothold in the brick-and-mortar retail market..
* Forever 21 has been struggling in recent years, but is now working to turn around its business..
* The deal is expected to help Forever 21 improve its financial position and expand its customer base..
* The deal is a sign of the changing landscape of the retail industry..
**Additional Information**.
* Shein is a Chinese online fast-fashion retailer founded in 2008..
* The company is known for its low prices and trendy clothing..
* Shein has a large and loyal customer base..
* The company is expanding rapidly, with plans to open new stores in the United States and other countries..
* Forever 21 is a fast-fashion retailer founded in 1984..
* The company has over 800 stores in the United States and over 500 stores in other countries..
* Forever 21 has been struggling in recent years, closing hundreds of stores and filing for bankruptcy in 2019..
* The company has since emerged from bankruptcy and is now working to turn around its business..
