SOUTH AFRICA: Forever 21 plots first store opening
US teen fashion retailer Forever 21 is to open its first store in Africa this year.
The 1,400 sq metre store will open in Hyprop Investment's Canal Walk shopping centre in Cape Town in the middle of the year.
Forever 21, which operates stores in the US, Latin America, Asia, and Europe, said it also plans to open additional stores in Africa.
FOREVER 21 TO OPEN FIRST AFRICAN
STORE IN CANAL WALK
Affordable US fashion brand, Forever 21 is set to open its first store on the African continent in Hyprop’s Canal Walk. The 1 400m2 store will open mid-year.
“We are pleased to welcome another leading international brand to our portfolio, which will further underpin Canal Walk as the premier, quality fashion destination in the Western Cape,” says Hyprop CEO Pieter Prinsloo.
Headquartered in Los Angeles, Forever 21 is primarily a youth brand renowned for the latest international runway trends at the greatest value. Forever 21 boasts stores across the US with an international footprint in ten Latin American countries, 19 Asian countries and five European countries.
“We are excited to enter the South African market and have plans for some exceptional stores for this market,” says Jatin Malhotra, Forever 21’s Director of Real Estate and Business Development. “Canal Walk ticks all the right boxes for us in terms of the kind of mall that we feel would be the best venue for our brand. We are happy to commence this relationship with a key landlord.”
Prinsloo adds: “Establishing a relationship with leading international fashion brands such as Forever 21 aligns with our strategy of driving a vibrant tenant mix and offering shoppers access to popular leading labels.”
Original source: http://www.hyprop.co.za/downloads/Newsletter/20140131/mailer.html
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