Fast fashion retailer Forever 21’s latest collaboration is with none other than Mattel’s flagship Barbie brand.
The collection, aimed at young girls, boasts 10 pieces and includes shirts and tank tops in Barbie’s signature pink, pastel barrettes, pink hoodies and skinny jeans, among other items. All pieces in the collection are under $30.
After filing Chapter 11 late last year, the retailer recently reached a deal to sell its assets for $81 million.
The “stalking horse bidder” is a consortium made up of Brookfield Properties, Simon Property Group and brand management firm Authentic Brands Group.
“With Forever 21, we do think there is a business there,” said David Simon, chief executive officer, Simon Property Group, in a call with analysts. “But it has to be turned around... We’ve got our work ahead of us. But if we are successful... we will make money at Forever 21. We make these investments for the sole purpose of we think there is a return on investment. We would not be attempting to do Forever 21 for the sole purpose of maintaining our rent. Forever 21 took its eye off the ball... primarily because of international growth. Obviously, the store size... got too big.”
The sale includes all of the retailer’s remaining stores and its beauty line RileyRose, among other assets.