An operator of several Forever 21 retail stores, once a go-to destination for affordable and trendy fashion, has filed for bankruptcy following years of declining performance.
Forever21
According to court documents, the company filed for Chapter 11 bankruptcy in Delaware, listing assets between $100 million and $500 million and liabilities ranging from $1 billion to $10 billion.
Bloomberg reported in February that Forever 21 had been exploring various turnaround strategies, including a potential second bankruptcy filing.
This marks the brand’s second bankruptcy, following its first in 2019, which led to intense disputes, minimal creditor recovery, and the closure of hundreds of stores. Today, according to its website, Forever 21 operates more than 540 locations worldwide.
The retailer was acquired out of bankruptcy by a group of buyers, including Simon Property Group, Brookfield Corp. and Authentic Brands, through their joint venture, Sparc Group.
Earlier this year, Sparc merged with JCPenney to form Catalyst Brands. At the time of the merger, Catalyst stated it was assessing strategic options for Forever 21’s operations.
The company’s struggles reflect broader retail challenges, as inflation prompts consumers to cut back on clothing purchases. Forever 21 has also faced increased competition from online shopping, drawing traffic away from malls.
Italian luxury footwear and accessories brand Santoni has opened a new flagship boutique at 667 Madison Avenue in New York City.
Santoni unveils new flagship boutique on Madison Avenue. – Santoni
Designed by architect and designer Patricia Urquiola, the boutique spans approximately 350 square meters and embodies an architectural concept inspired by the Chrysler Building’s iconic geometric shapes. It is characterized by a warm color palette featuring shades of orange, terracotta and rose with champagne brass details.
Spanning two levels, the boutique presents an airy ground floor with a six-meter-high backlit metal grid ceiling. Three-dimensional paneled walls contribute to a cohesive visual rhythm, while fine Italian marble including onyx and travertine complete consoles, shelves, and partitions. Footwear, small leather goods, and accessories are displayed alongside plush sofas and armchairs.
The lower level was designed to feel like an intimate lounge enveloped in the warm glow of mirrors, and houses the Bespoke Santoni area. Lastly, a dedicated artisanal workshop features a long Rosso Verona marble workbench where shoemakers repair, polish, and resole footwear.
“Opening our new flagship in New York, right on our 50th anniversary, is an extraordinary milestone. It was here, in 1997, that we opened our first boutique, marking the beginning of a story of innovation and growth,” said Santonit, president Giuseppe Santoni.
“Today, our journey extends far beyond men’s footwear, strongly embracing the women’s and accessories segments. An evolution that made a larger space necessary, one capable of embodying our vision and offering the customer not just a place to shop, but a true experience, an authentic encounter with our universe.”
The store opens with an exclusive capsule collection featuring men’s and women’s accessories. The capsule reimagines signature designs such as the Carter wholecut, the Vanguard briefcase, the Marta slingback, and a classic belt.
Children’s fashion brand Janie and Jack has teamed up with professional athlete, entrepreneur, and mom, Serena Williams, to launch a limited-edition spring collection.
Janie and Jack launch limited-edition children’s collection with Serena Williams. – Janie and Jack
Marking her debut in children’s fashion, the Serena Williams x Janie and Jack collection is inspired by Williams love for family and the special bond she shares with her daughters.
The collection, designed for children up to 12 years old, features resort-ready apparel, swimwear, and accessories. It is characterized by vacation-ready prints, vibrant hues, and silhouettes reminiscent of Williams childhood. Highlights include two exclusive mommy-and-me styles and a reimagined version of her iconic childhood tennis outfit.
“As a longtime fan of Janie and Jack, I’m thrilled to bring this collection to life alongside my girls,” said Williams. “Every piece is designed to celebrate family, style, and the special moments we share together. I poured so much love into this collection and can’t wait for families everywhere to experience it.”
The collection launches with a campaign starring Williams and her daughters. It is priced from $18.50 to $175 and is now available online and in Janie and Jack stores nationwide.
“Serena has been our dream partner since the moment she became a mother. We were so excited when we first saw her dress Olympia in Janie and Jack at Wimbledon,” said Parnell Eagle, president and chief commercial officer, Janie and Jack.
“Her vision and creativity brought a fresh perspective to every design, resulting in a collection that exudes her iconic style and celebrates family bonds. It’s been a privilege to work alongside Serena, and we’re excited to offer families timeless pieces that inspire connection and special moments together.”
Interparfums SA and Coach announced they are renewing their exclusive worldwide licensing agreement for creation, manufacturing and distribution of the U.S. luxury brand’s fragrances until 2031.
Coach
The duo said that two newly created perfumes will be launched in 2025, as a result of the continued partnership.
“In less than ten years, we have succeeded in building a legitimate and coherent fragrance offering based on a high-quality brand name recognised for both its image and its products,” said Philippe Benacin, chairman and CEO of Interparfums SA.
“We are extremely ambitious and confident in the brand’s continuing growth in the short, medium and long-term, especially driven by its gender complementarity, with equal popularity for men’s and women’s fragrances.”
Coach, owned by New York-based company Tapestry, first partnered with Interparfums back in 2015 for its fragrance line, expanding beyond its leathergoods.
Sales of Coach fragrances have surged from just €10 million in 2015, to some €190 million in 2024.