A lot of things are true about the retail industry, but saying malls are a boom town for large, legacy stores certainly isn't one of them.
The fact of the matter is that malls have been something of a death sentence for stores that take up larger spaces and rely mostly on spillover foot traffic from mall customers to support their bottom line.
Related: Popular restaurant chain filing for bankruptcy, closing all locations
It's not all due to covid, either. While the pandemic certainly accelerated the decline of shopping malls across the United States, in reality that trend had been going on quite a while before any of us really even knew what the coronavirus was.
Thanks to a rise in prices, the soaring popularity of online shopping, and a saturation of the market, shopping malls across the country were quickly looking more like something out of a zombie apocalypse movie than the booming, glittery beacon of capitalism more closely associated with the 1980s.
Of course, with the onset of the pandemic, even more malls started to falter, taking their high-rent tenants along with them. Everyone from mall operators like Simon Property Group (SPG) to larger flagships, such as JC Penney and Macy's begin to falter, and hushed words about bankruptcy and store closures echoed through increasingly empty hallways.
Forever 21 has had a rough several years
One such retailer that struggled through the pandemic was Forever 21, a discount clothing store devoted mostly to younger women. In the 2010s, Forever 21 was beloved for its cheaper than cheap crop tops, sun dresses, and accessories. But as folks stopped going to malls -- and in 2020 when people stopped going anywhere -- sales came to a screeching halt.
The retailer filed for Chapter 11 bankruptcy in September 2019, shuttering stores and ceasing operations in 40 countries. In early 2020, it sold all $81 of its remaining assets to Simon Property Group, Brookfield Properties, and Authentic Brands, determined to focus more on its central U.S. operations. A month later, it shuttered its stores due to covid.
Forever 21 back from the dead
Since the takeover (which Brookfield has since exited from), Forever 21 has been busy reinventing its name in fast fashion. It's partnered with big name designers like Herve Leger and blockbuster cultural phenomena like Barbie.
And on April 24, the mall retailer announced it would launch its own bridal line, signaling its intent to diversify away from clothing meant just for teens or the 20-something bar scene.
The introductory collection features 22 individual styles intended both for the bride and her bridesmaids. Some of the pieces in the line include:
- Dresses
- Hair accessories
- Swimsuits and lingerie
- Shape wear
- Pajamas
- Cowboy hats
- Jewelry and accessories
- Shoes
- Handbags
The items range in price from $8.99 to $47.99 and sizes from XS to XL.
Most of the items are casual or meant to cater to wedding-adjacent activities, such as bachelorette parties, wedding showers, receptions, and more casual ceremonies.
Bridal seems to be the future for more than one mall retailer. Earlier in 2023, Abercrombie & Fitch (ANF) said it would launch its own bridal line, featuring a line of about 100 dresses and accessories with a price range of $70-$200.
