Adastria : FOREVER21 is back to Japan in spring 2023! Adastria signs agreement as partner for Japan expansion.
September 21, 2022 at 12:40 am EDT
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September 21, 2022
Adastria Co., Ltd.
To Whom It May Concern,
FOREVER21 is back to Japan in spring 2023!
Adastria signs agreement as partner for Japan expansion.
Localised for the modern domestic market under the slogan "Trend & High Quality".
Gate Win Co., Ltd., a consolidated subsidiary of Adastria Co., Ltd., has entered into a sublicensing agreement with ITOCHU Corporation, the master licensee of the FOREVER21 brand, to develop the brand in Japan. Gate Win will begin sales in 2023 on its own online shop ".st", later opening brick-and-mortar locations in shopping centers in the Kanto and Kansai regions.
■About FOREVER21
FOREVER21 is a casual fashion brand from Los Angeles, U.S.A., with a history of more than 30 years. The company opened its first standalone store in Japan in 2009 and became the brand that led the foreign fashion boom of the 2010s. Although store openings in Japan ended in 2019, Authentic Brands Group (ABG), a U.S. brand management company, acquired and rebranded the FOREVER21 brand in the same year. ABG redesigned product quality, prices, and in-store displays, while developing promotions tailored to the current era, including a proactive approach to sustainability and social contribution. In this way, the FOREVER21 image as a brand has earned the support of numerous customers.
■Purpose of the Agreement
In the re-launch of Forever 21 in Japan, Gate Win intends to leverage the potential of Forever 21 as a fashion brand representing high fashion sensitivity and diverse culture with Gate Win's environment- and people-friendly supply chain management. Pursuing a new shift toward trends and high quality, Gate Win will bring its in-housee-commerce site with over 14 million members, store development capabilities, product development capabilities, and other strengths.
■Future Outlook
Gate Win will launch Forever 21 brand sales on its online shop, ".st" on February 21, 2023. Later, Gate Win plans to open brick-and-mortar stores in shopping centers in the Kanto and Kansai suburbs, as well as pop-up stores as needed to create opportunities for customers to pick up products directly and experience the new brand. Gate Win has set a target to achieve sales of 10 billion yen in the fiscal year ending February 2028.
10 million yen (wholly owned subsidiary of Adastria Co., Ltd.)
Established
:
May 2, 2022
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Adastria Co. Ltd. published this content on 21 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 September 2022 04:39:09 UTC.
Adastria Co Ltd, formerly Adastria Holdings Co Ltd is mainly engaged in the apparel and miscellaneous goods retail business. The domestic product sales business includes casual fashion brands such as Global Work, LOWRYS FARM, LEPSIM, JEANASiS and RAGEBLUE, and lifestyle brands such as nico and ..., studio CLIP and BAYFLOW.It develops e-commerce (EC) specialized brands such as apres jour. It develops fashion apparels for adults under the brands such as Babylon and BARNYARDSTORM. The Company operates its business under the brand Velvet by Graham and Spencer in the United States. The logistics business, goods are received, inspected, stored and shipped. In order to efficiently purchase products when expanding to multiple stores, the Company inspects and stores the received products by the central buying method and ships the products in a timely manner.
ADASTRIA CO., LTD. 
