Connect with us

Business

Fashion retailer Forever 21 files for bankruptcy protection

Published

5 years ago

on

Forever 21 has filed for Chapter 11 bankruptcy protection. The US fast-fashion giant announced that it will make its exit from most international locations in Asia and Europe. The move comes as traditional retailers continue to struggle against the rise in competition posed by online retailers.

The company said it plans to “exit most international locations in Asia and Europe” but would continue to operate in Mexico and Latin America. It expects to close up to 350 stores worldwide, a spokesperson said, including as many as 178 US stores.

Forever 21 sells inexpensive, trendy clothes and accessories, and competes against brands such as Zara and H&M.

Forever 21 had over 800 stores in 57 countries across the globe. The brick and mortar chain announced that it would now file a motion to close up to 178 of its stores. However, the decision as to which domestic store will be closed is still pending

Forever 21 India will not be impacted,” announced the brand’s Indian franchise partner, Aditya Birla Fashion and Retail Ltd. The Aditya Birla Fashion and Retail had bought the online and offline rights for Forever 21 in India from DLF Brands in 2016.

The group clarified that bankruptcy filing by the US-based fast-fashion retailer will not in any way impact its business in India. Forever 21 India, will hence, continue to operate its stores like before. Currently, the franchisee runs about a dozen outlets of Forever 21 in the country.

Related Topics:
Continue Reading

Business

Apple is giving a huge discount on its gadgets: Details inside

Published

3 years ago

on

May 5, 2022

By

If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

Continue Reading

Trending