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Forever 21 is a fast-fashion retailer founded by a Korean couple in Los Angeles in 1984. It sells clothing, accessories, beauty products, and home goods worldwide, but has also faced lawsuits, criticism, and environmental issues.
Shein acquired one-third of Forever 21’s parent company in 2023, but retail experts say the relationship is no longer beneficial to the Chinese e-commerce giant.
Do Won Chang is a Korean-born American businessman who founded Forever 21 with his wife Jin Sook Chang. He moved to California in 1981 and started the clothing store chain with $11,000 in savings.
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From 1871 to 1913, "the average U.S. tariff on dutiable imports never fell below 38 percent [and] gross national product (GNP) grew 4.3 percent annually, twice the pace in free trade Britain and well above the U.S. average in the 20th century," notes Alfred Eckes Jr, chairman of the U.S. International Trade Commission under President Reagan. [18]
Shein and Forever 21 are joining forces in a deal that will expand their reach and influence in the retail world. The union is a win for the Asian and American fast fashion leaders as the two ...
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