Forever 21 Mexico, a newly-formed entity under IB Group and Grupo Cojab, will be responsible for the distribution of Forever 21 in Mexico and has plans to open new shop-in-shops in the region this year. Under the new structure, 37 Forever 21 stores will transition from a vertical operation to a licensed model and will remain open.
“Our partnership with IB Group serves as a new launching point for Forever 21 in Mexico,” says Jamie Salter, founder, chairman and chief executive officer, ABG. “The brand has an incredibly loyal following of fashion-forward, female customers in the region who identify with its unique offerings and collaborations. In recent years, Forever 21 has also seen consistent growth across the men’s category. We’re excited to be working with IB Group to continue the brand’s growth and success in this important market.”
This announcement expands ABG’s relationship with IB Group, a marquee partner of the ABG-owned Aéropostale brand in Mexico. With more than three decades of experience, IB Group has introduced American brands to the Mexican market including Champion, Chico’s, London Fog, Capelli and Soma, among others. The Mexican holding company specializes in sourcing, distribution, retail, real estate, and marketing of fashion and consumer brands.
“In these challenging times, we are creating new opportunities thanks to previous experiences with our portfolio of brands and the knowledge of the IB Group team,” says Carlos Ibarra, chairman, board of directors, IB Group. “We are excited to continue our partnership with ABG and look forward to creating new opportunities that will broaden distribution for Forever 21 in Mexico.”