Fast fashion retailer Forever 21 is re-entering the UK and EU market with a new online store for British customers as part of its e-commerce centric global expansion strategy.
The brand is working with cross-border e-commerce solutions provider Global-e to accelerate its global online expansion, which began in Asia-Pacific and Latin America earlier this year. It plans to grow with international shipping to key markets from its US fulfilment hub.
Since implementing this new approach, the brand claims a significant uplift in conversion rates and the number of orders by tailoring the online shopping experience to each market’s characteristics and shopping preferences. In Taiwan, conversion rates rose by 72% year-on-year while those in Australia were up 133% year-on-year.
Globally, the Forever 21 international online offering now includes support for more than 95 currencies, over 150 local and alternative payment methods, and localised checkout in 25 languages.
“Despite the market conditions the entire industry is facing due to the Covid-19 pandemic, we see a strong demand for the Forever 21 brand in the UK and the rest of Europe,” says CEO Daniel Kulle.
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Matthew Merrilees, CEO North America at Global-e, adds: “The dramatic increase in the number of consumers in the UK and across the globe that are purchasing online in light of the current Covid-19 pandemic, emphasises the accelerating shift from physical retail to e-commerce and the need to re-think and adapt future business models and international multichannel strategy more than ever.
“Forever 21 is a strong brand that has fortified its position as an online leader and has taken valuable steps to get ahead of the curve, with a renewed shift to e-commerce and an advanced cross-border strategy. Since launching its online store that is fully localised to individual markets, the brand is already driving an uplift in online conversion rates.”
The US based retailer filed for Chapter 11 bankruptcy last September, and announced plans to exit most of its international locations in Asia and Europe. It sold off most of its assets four months later.
It was acquired by Authentic Brands Group (ABG), Simon Property Group, and Brookfield Property Partners, in an US$81m deal earlier this year, and in February named Daniel Kulle, former president of H&M North America, as the new CEO.