Low-priced fashion retail company Forever 21 is planning to introduce its new F21 Red store concept to the New York City market by way of Shops at SkyView Center in Flushing, Queens, Commercial Observer has learned.
“It’s a different merchandise mix,” Patrick Delaney, a real estate manager for Forever 21, told CO at the SCG Retail party at Providence in Midtown tonight, on the eve of International Council of Shopping Centers’ New York National Deal Making Conference.
Forever 21 launched the first-ever F21 Red store, a “spinoff concept” to the main brand, in South Gate, Calif. in May, appealing to a broader spectrum of clients, Mr. Delaney, who is based in Los Angeles, said. “It appeals to a larger target audience,” he added. There are two other F21 Red stores, one each in Johnson City, N.Y. and Minnesota.
While Forever 21 sells 80 percent junior fashion and 20 percent basics, menswear, plus-sizes and lingerie, F21 Red sells 20 to 30 percent fashion and 70 to 80 percent of the rest.
As was reported last month, Forever 21 inked a 10-year lease for 10,093 square feet at Onex Real Estate Partners‘ Shops at SkyView Center at 40-24 College Point Boulevard. Mr. Delaney said the store is expected to open in April.
The Shops at SkyView Center has leased 95 percent of its retail space to tenants such as Nordstrom Rack, which is across from where the Forever 21 store will open.
Forever 21 has stores in Times Square, Union Square, Soho, Queens Center and Shops at Atlas Place, with Times Square being the most profitable, said Mr. Delaney, who hopes at ICSC to find new opportunities for Forever 21 stores in the U.S. and Canada.