Are We Officially Burned Out On Fast Fashion?
A little over a year ago, fast fashion was king of the retail hill. Slow-moving behemoths like J.Crew and The Gap were suffering under the weight of the H&Ms and Zaras as they brought low-cost, trendy merchandise to market with blinding speed. But now, fast fashion’s time in the sun may be coming to an end. According to a report in The New York Post, Tokyo-based retailer Uniqlo has shuttered five stores since January amidst growing financial concerns. And it appears that Uniqlo is not the only fast fashion brand experiencing a downturn. Profit margins for H&M have shrunk in the last year, partly due to an expansion target of 10 to 15 percent that has some fearing the retailer will cannibalize its own stores. And, according to an article in the The Wall Street Journal, Forever 21 has not only seen profits taper off, it has also been in talks to secure a $150 million loan to pay for leases on its giant stores. Read more at Esquire.
