What:  Through a licensing agreement with Lasonic Limited, the brand plans to reopen a Tmall flagship and physical stores across China.

Why it is important:  After 2 failed attempts, the company is pressing reboot in China for the third time.

The brand said it has reentered major e-commerce platforms like Vip.com and Pinduoduo, and is planning to open a flagship on Alibaba’s Tmall, and physical stores across major cities in China.

The brand was bought out of bankruptcy by Simon Property Group, Authentic Brands Group and Brookfield Property Partners for USD 81 million in February 2020. Its international business is being handled by licensing specialist ABG.

Lasonic Limited is a Hong Kong-based electrical, electronics and lighting products manufacturer. It also does business in intellectual property licensing, event planning and merchandising. In addition to Forever 21, Lasonic manages the licensing business of IPs like emoji, Hello Kitty, Little Twin Stars, Spongebob and Pepsi.

Forever 21 to Reboot in China, Again