Forever New continues lightning fast expansion
One of the country's youngest fast-fashion chains is set to ramp up its presence in the Australasian region.
Forever New, a youthwear retailer which has rolled out twenty stores since its Australian launch late last year, has announced plans to expand across the nation's southern coast as well as venture into the Asian market. Four stores are due to open in Adelaide and Sydney within the next two months followed by ten openings throughout Australia in 2008.
Forever New managing director Amanda Goenka credited the brand's exponential growth to its adoption of Europe's high street fashion formula.
"We have a young team of Australian and London based designers who keep a daily watch on new trends from fashion's latest hotspots including Tokyo, Los Angeles, Barcelona and Amsterdam as well as gaining inspiration from celebrities on the street to ensure we stay ahead of our competitors by offering customers up to the minute looks," she said.
Forever New's internal vertical infrastructure had allowed the business to operate at maximum speeds with designs taking as little as fourteen days to arrive on shop floor, Goenka said. The company carries its own range apparel and fashion accessories and is the exclusive distributor of Lipsy, a brand stocked by UK giants Top Shop and Selfridges.
Goenka said Forever New's structure meant it could offer "extremely" competitive price points with most merchandise available at under $100. The company planned on bolstering its in-store marketing - which currently includes promotional images shot by leading photographers and featuring top Australian models - with the impending launch of Fashion TV on its wide screen televisions.
While Goenka would not be drawn on the company's rumoured assualt on the Indian market, she confirmed 10 to 12 Forever New stores would be unveiled in South East Asia over the next 12 months. Goenka said Australian operations would continue to be a priority for the company.
"We are focused on all sites nationally which complement our existing portfolio and match our brand profile."
By Assia Benmedjdoub