Fast fashion powerhouse Forever 21 files ground-shaking petition in court: 'Consumers are waking up'

Forever 21 filed for Chapter 11 bankruptcy, prompting fashion experts to speculate about a downward trend in the fast fashion industry. 

After thriving for many years, consumer demand is shifting away from fast-fashion business models like Forever 21. 

What's happening?

As Retail TouchPoints reported, Forever 21 has faced slowing sales and increased competition. Meanwhile, sustainable business models like secondhand clothing websites and subscription rental services have emerged. 

These shifts signal apparent weaknesses in the fast-fashion industry, prompting experts to discuss whether the end of fast fashion is near. 

One Retail TouchPoints editor, Adam Blair, wrote: "Consumers are waking up to the environmental impact of the choices they make — including the fact that so much apparel ends up in landfills — and recognizing that a sector based on a buy it/wear it/toss it ethos is unsustainable in both the economic and ecological senses." 

Senior editor Glenn Taylor shared, "There's still plenty of room for affordable fashion, but shoppers simply have different priorities in what they want out of an experience." 

"The rise of luxury resellers and newer, more socially conscious apparel brands are giving today's consumers fashionable choices well beyond the mall-based retailers that dominated in recent years," added associate editor Bryan Wassel. 

Why does the fast-fashion industry need a makeover?

Although one brand filing bankruptcy doesn't automatically mean the end of an industry, it could indicate a step in a positive direction. 

Brands are getting the message that their consumers want something different than what they're being offered. Strong brands may survive by adapting to trends and adjusting their business models. 

Now is the time for fast-fashion brands to pivot operations and give shoppers what they genuinely need and want. Forever 21's bankruptcy filing is a wake-up call about how demand changes and how sustainability has emerged as a top priority. 

If fast-fashion brands commit to overcoming their troublesome pasts plagued by labor exploitation, public health damage, and pollution waste, they can run profitable, climate-positive businesses that benefit consumers. 

What's being done to limit fashion waste?

Fortunately, circular models are emerging, putting fast-fashion companies on notice. 

Innovative brands are encouraging people to return used clothing for store credit and then resell or recycle it to reduce textile waste. Francesca's partnership with ThredUP and The North Face's used gear exchange program are good examples.

Meanwhile, popular celebrities and influencers are promoting and normalizing thrift shopping for unique, vintage pieces without the stigma that secondhand clothing once had.

You can continue to do your part to make it clear that unsustainable choices aren't good for business by visiting your local thrift shop. You could even make money on your old clothes. Breaking up with fast fashion can save you substantial money on quality clothes in the long run and curb your environmental impact while looking your best.

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