Forever New’s sales rose 11 per cent in 2018. After a brand refresh late last year, when Forever New launched a new e-commerce platform, loyalty program and new store design, sales are growing between five per cent and eight per cent.
Australia-based Forever New, is a fast fashion brand with 200 stores overseas and 86 in Australia. It has a unique product offering, distinctive feminine aesthetic and a focus on quality at affordable price points, it offers a point of difference and value. Forever New opened 13 years ago. The first overseas store opened in 2009. Sales from brick and mortar stores in countries such as Canada, Singapore, China, India, South Africa and New Zealand, concessions in Singapore and the Middle East, and revenues from dedicated online stores and marketplaces now account for 40 per cent of total sales.
This retailer is not fully vertically integrated but sources from several suppliers in China and south-east Asia, designing separate ranges for the southern and northern hemispheres to overcome reverse seasonality challenges and emulating global retailers by dropping new stock into stores every week. It uses different suppliers around the globe. Right now the focus is on growing business. Since it is privately owned, it can focus on investing and growing the business for the long term.
