US fast fashion chain Forever 21 has confirmed its first location in Australia.
The brand currently operates over 480 outlets worldwide and will debut in Australian next year via a store at the NEXT Hotel in Brisbane's Queen Street Mall.
The Brisbane store is set to open in mid-2014 and will position Forever 21 as the sole tenant for the retail space. Once complete, the store will span about 1,900 square meters over two storeys.
An open-plan commercial precinct, Queen Street Mall boasts an annual foot traffic of 26 million, with the NEXT Hotel targeted at a clientele of modern business travellers in particular.
Commenting on its entry into the Australian market, Forever 21 director, real estate and development Jatin Malhotra said he expects good results.
“Australia is a terrific market and we hope to make a lot of customers happy. We are satisfied to have a strong landlord help us embark this journey. We will be penetrating the market in a sustainable manner," he said.
Brisbane Lord Mayor Graham Quirk added that the international brand will be a welcome addition to the existing Queen Street Mall retail mix.
“As a vibrant city, we welcome the arrival of another new and internationally renowned brand such as Forever 21.”
NEXT Hotel is part of the SilverNeedle Hospitality stable. SilverNeedle Hospitality is a hospitality investment, management and development company.