75 sats \ 4 replies \ @grayruby 21 Jun \ on: Forever 21 seeks rent concessions as fast-fashion brand faces financial woes econ
Turns out not everyone wants to be 21 forever.
Most of these brick and mortar mall based brands are in deep trouble. I used to do a lot of work with the Hudson's Bay here in Canada and they are having enough problems of their own but they did have some success leasing out space in their stores to other brands who maybe were shrinking their own store footprint. I wonder if that will be a common way for these brands to maintain a physical footprint while they try to move their business online.
Good question. Where I live a few takeout food places share space. Typically they have complimentary menus. What we used to call department stores like Macy's or Sears have either gone the rent shelf space thing or gone under.
reply
reply
I never heard of this before. I just checked it out. It makes sense. Did it catch on at all in Canada?
reply
Not really. The guy who created Uber founded it. We did have a couple of them in Toronto and I found the concept interesting because we did some work for a small restaurant chain and even a basic build out and setup for a small restaurant is hundreds of thousands then add rent, inventory, labour costs etc etc. So I thought it would be a great way for existing and new brands to minimize a lot of that.
reply