Hudson's Bay Entered into a New Forever 21 Partnership
Daniel Johnson — June 14, 2021 — Business
References: businesswire & retaildive
Hudson's Bay announced that it is entering into a Forever 21 partnership, where certain Forever 21 will have full-line collections available at certain Hudson's Bay stores.
Under the new Forever 21 partnership agreement, certain products will also be available to consumers through thebay.com. Currently, the agreement has already brought Forever 21 products to two Hudson's Bay locations and will be expanded throughout retail locations in Canada. With the new agreement, Hudson's Bay will now be a third-party retail partner to Forever 21 in Canada and will have exclusive rights.
"As we continue to transform our business, Hudson’s Bay is creating exciting depth to its fashion matrix, with coveted brands and curated experiences that provide Millennial and Gen Z style-seekers with a destination to find fashion that suits their lifestyle," said Wayne Drummond, the Cheif Merchant at Hudson's Bay.
Image Credit: Shutterstock
Under the new Forever 21 partnership agreement, certain products will also be available to consumers through thebay.com. Currently, the agreement has already brought Forever 21 products to two Hudson's Bay locations and will be expanded throughout retail locations in Canada. With the new agreement, Hudson's Bay will now be a third-party retail partner to Forever 21 in Canada and will have exclusive rights.
"As we continue to transform our business, Hudson’s Bay is creating exciting depth to its fashion matrix, with coveted brands and curated experiences that provide Millennial and Gen Z style-seekers with a destination to find fashion that suits their lifestyle," said Wayne Drummond, the Cheif Merchant at Hudson's Bay.
Image Credit: Shutterstock
Trend Themes
1. Omnichannel Retail Partnerships - Retailers partnering up to bring products to both physical stores and online through each other's platforms could disrupt the traditional retail landscape.
2. Exclusive Third-party Partnerships - Companies partnering with a third-party retailer to have exclusive rights in a certain region could transform distribution models and increase brand visibility.
3. Curated Fashion Experiences - Offering unique and curated fashion experiences to millennials and Gen Z could be a disruptive strategy that sets certain retailers apart from competitors.
Industry Implications
1. Retail - Retail companies could explore partnerships with other brands to offer unique shopping experiences that drive sales and increase brand exposure.
2. Online E-commerce - Ecommerce companies could partner with physical retailers to expand their product offerings and bridge the gap between online and offline shopping.
3. Fashion - Fashion companies could look to build exclusive partnerships with third-party retailers to increase their reach and establish themselves as leaders in the industry.
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