Forever 21 New Owners Reveal Future Plans: They Will Continue To Carry Out Business In Key Markets.

Not long ago, the Forever Simon, the struggling fast fashion giant of the United States, reached a sale agreement with the consortium of the US commercial real estate giant Simon Property Group Inc. (hereinafter referred to as Simon Property), the commercial real estate company Brookfield Property Partners (hereinafter referred to as the Brookfield Property) and the American brand management company.

On Wednesday, ABG announced the specific equity arrangement after takeover: ABG and Simon Property will acquire 37.5% of the assets of Forever 21 brand, while Brookfield Property will acquire Forever 25% and 25% of its assets. The specific financial terms of the transaction were not disclosed.

Forever 21 now has 815 stores in 57 countries, and will continue to do business in the US and international markets in the future. In addition, Forever 21's own store business in Central America, South America, Mexico, Philippines and the Caribbean region will now be transformed into an authorized business mode.

ABG added that the new owner of Forever 21 will work with existing and new partners to expand business in key areas such as South America, China, the Middle East and India.

At the end of 9 last year, Forever 21 filed for bankruptcy protection. Forever 21 said at the time that through bankruptcy reorganization, the company could focus on profitable core American businesses and close other poorly managed overseas stores. "We have approved the closure of up to 178 stores in the US market," the company said in an email statement. "What kind of US stores will be closed in the future, and the outcome of consultations with owners?"

About Authentic Brands Group

Authentic Brands Group (ABG) was founded in 2010 by Canadian merchant Jamie Salter in New York as an innovative brand management company. After acquiring bad brand, ABG will study the brand of purchase carefully, relocate the brand without affecting the brand value, help the brand expand the category and make it regain the favor of consumers.