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datasets.iitb.crawledDocs.yn_08Oct08_file_130 Maven / Gradle / Ivy

    DDI WEB | | | | | Forever 21 Makes Bid for Mervyns October 07, 2008 Los Angeles-based fast-fashion retailer Forever 21 Inc. has submitted a bid to acquire about 150 stores from Hayward, Calif.-based Mervyns, according to Latimes.com. Meryvns, which filed for Chapter 11 bankruptcy protection in July, has already shuttered 26 of its 175 stores. Forever 21's offer is for the remaining stores, and the amount was not disclosed. The deal could help Forever 21 expand into larger standalone locations--currently the retailer operates about 430 stores in shopping malls. "Our vision has always been to get a bigger box," said Christopher Lee, senior vice president of Forever 21. "We've been looking at these assets for many years." Lee added that, if the bid is accepted, the company will likely convert many of the Meryvns stores to the Forever 21 brand, and close the others. Forever 21, which expects to receive a response on its bid within the next several weeks, had previously tried to acquire Mervyns when it was put up for sale by Target Corp. in 2004. | | | | | RetailDesignDiva is the industry's first retail design Weblog dedicated to the issues, opinions and frustrations of the day. to read the Diva's recent rantings. Produced by: Nielsen Business Media, a part of the Nielsen Company | | | | DDI has been heralding the latest retail store design ideas since 1988 and has become a trusted source for all things retail. When DDI first appeared 20 years ago, the market was right for a magazine that focused on the retail environment. DDI has grown to become the retail design resource for store design concepts and a trusted guide to retail design ideas. DDI carefully chronicles the changes and focuses on the things that generate a buzz the world over in the retail industry. | | | | | | | | | | © 2008 All rights reserved. |