Forever 21 to open two F21 Red stores in Canada

Forever 21 spin-off brand F21 Red will begin opening stores in Canada later this year. The first two stores will be located in Ontario while the other locations have yet to be named.

The Ottawa and Windsor stores will open this fall as part of a 20 to 30-store expansion over the next five years, Financial Post reported.

Forever 21 first arrived in Canada in 2001. Expansion began in 2007 and the fast-fashion retailer now runs 31 large stores in Canada. And last summer, Forever 21 founder and CEO Do Won Chang announced an ambitious growth plan: to double in size over the next three years.

Last spring, Forever 21, which already averages tops for less than $10 and dresses between $19 and $20, debuted F21 Red, its new concept with even greater quantities of low-priced items.

"With F21 Red, 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," Chang told Financial Post.

The chain's entrance into Canada comes as other fast-fashion retailers have made their mark north of the border this year. For example, H&M has 74 stores currently in Canada and sales have jumped 19 percent in six months.

For more:
-See this Financial Post article

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Forever 21 expands in Australia
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Forever 21 to double in size by 2018
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