US fashion chain Forever 21 wants to open up to four stores in London to kick off its push into the UK.
The retailer is understood to be in advanced talks to acquire stores in Covent Garden, Oxford Street, Regent Street and Westfield London. However, no decision has been made on the first opening.
- More news on Forever 21 in London
The retailer has been looking for sites since it announced plans to enter the UK in February and has appointed Harper Dennis Hobbs to scout for suitable locations.
The openings will be Forever 21’s first in Europe and are expected as early as next spring. The move is believed to be a precursor to the retailer’s expansion into Continental Europe.
Harper Dennis Hobbs director James Ebel said: “Forever 21 is enjoying phenomenal success in the US even in the current climate, so it has decided that now is the right time to make their entry into the UK.”
Forever 21 wants to open large, prominent stores of between 30,000 sq ft and 50,000 sq ft (2,785 sq m and 4,645 sq m).
Next year, it plans to open its largest shop – a 90,000 sq ft (8,360 sq m) store in New York’s Times Square.
As well as the US, Forever 21 has stores in Canada, Jordan, Malaysia, China, Singapore, Indonesia, the Kingdom of Bahrain and United Arab Emirates. It is understood to be making its debut in Thailand this year and in Japan within two years.
Forever 21 was founded in 1984 and has grown into a multinational chain of more than 400 stores with sales of over USStory text billion (507.5 million) a year.