Forever 21 plans new F21 Red concept

Forever 21—known for enormous stores filled with fast and inexpensive fashion—will debut a new concept with even greater quantities of low-priced items called F21 Red.

The first store will be located at the Azalea Shopping Center in South Gate, California just south of downtown Los Angeles. F21 Red is set to open May 3.

The new store will carry bargain-priced basics, such as $1.80 camisoles and $7.80 denim for women and girls. For men, there will be T-shirts and tank tops for $3.80. Select merchandise from Forever 21 will also be available at the store, including looks from the company's other private-label clothing brands and Love & Beauty, the company's cosmetic line.

"We are very pleased to unveil the first F21 Red store in the Azalea Shopping Center," said Don Chang, the retailer's founder and CEO. "With F21, we are able to deliver greater quantities of the styles our customers seek while maintaining the value with entry-level category price points Forever 21 is known for offering."

Forever 21 operates more than 600 stores in the U.S. and is best known for quickly getting new fashion trends to stores and selling at a low price.

Retailers have been busily upgrading retail spaces as they look to increase foot traffic in a retail environment where online sales are surging. Urban Outfitters (NASDAQ: URBN) earlier this month unveiled its new concept store, Space Ninety 8 in Brooklyn, New York. The store is five levels with several new features including an event space for a marketplace of local designers and a restaurant and bar with outdoor dining.

Walmart (NYSE: WMT) opened its first Walmart to Go convenience store on March 15 in Bentonville, Arkansas. The concept store is another pilot for Walmart as it expands the number of small-format stores. Ann Inc. (NYSE:ANN) has also opened its first freestanding Lou & Grey concept store to further expand the successful Lou & Grey loungewear line.

For more:
-See this Forever 21 press release

Related stories:
Ann Inc to open 4 Lou & Grey concept stores this fall
L.L. Bean has record year, plans $100 million expansion
Walmart to spend $500 million on Canadian expansion
Ross moves forward with expansion plans, will open 95 stores by year's end
Target to open 33 more Canadian stores in November

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