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Forever 21 Inc. has learned the hard way that the allegiance of teen shoppers is anything but everlasting. (REPRESENTATIONAL IMAGE)(Unsplash)

Forever 21’s woes show the limits of fast fashion

Bloomberg | By Sarah Halzack
UPDATED ON OCT 01, 2019 01:57 PM IST
The fast-fashion retailer filed for bankruptcy late Sunday, saying it has obtained $350 million in financing to help it stay afloat.
From New York & Company, owned by RTW Retailwinds Inc., to Bloomingdale’s and Banana Republic of Gap Inc., more retailers are offering to lend out their clothing for a monthly rental rate.(Unsplash)
From New York & Company, owned by RTW Retailwinds Inc., to Bloomingdale’s and Banana Republic of Gap Inc., more retailers are offering to lend out their clothing for a monthly rental rate.(Unsplash)

Garments for lease: ‘Rental’ apparel brings new wrinkles for retail stores

Madrid/New York | By Reuters
UPDATED ON SEP 19, 2019 12:02 PM IST
Rental platforms buy clothing wholesale from brands, but many are introducing revenue-sharing models whereby platforms allow brands to upload items for lease and then take care of cleaning and delivery in return for a share in the revenue.
(Old Navy/Instagram)
(Old Navy/Instagram)

Gap is spinning off the stronger Old Navy brand into its own company

By Matt Townsend, Bloomberg
UPDATED ON MAR 02, 2019 02:10 PM IST
The Gap brand has struggled as part of a broader slump for brick and mortar retailers, even as the lower-priced Old Navy brand has resonated with discount shoppers.
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