SOURCE: Shape Property Management Corp.

February 09, 2016 09:00 ET

Forever 21 Will Launch Western Canada's First F21 Red at Highstreet

F21 Red Opening Follows the Global Retail Shift Away From Traditional Enclosed Malls

ABBOTSFORD, BC--(Marketwired - February 09, 2016) - Forever 21, one of the largest and fastest growing retailers in the world, is opening its new F21 Red concept at Highstreet in the Fraser Valley. Scheduled to open in fall 2016, the 15,000 square foot store will be the first F21 Red in Western Canada.

Known for its trend-driven apparel, Forever 21 plans to expand the F21 Red sub-banner to 20 to 30 Canadian locations over the next five years.

"We're excited that Forever 21 has chosen Highstreet for its first Western Canadian F21 Red location," said Darren Kwiatkowski, Executive Vice President of Shape Properties. "F21 Red's decision to locate at Highstreet is directly correlated to Highstreet's fresh new format which provides customers with an extraordinary open-air retail, dining and entertainment experience."

The F21 Red opening is consistent with the direction that many of today's leading retailers are taking away from traditional, suburban style enclosed malls. Instead, the focus has shifted to dynamic lifestyle centres that provide a range of dining, entertainment and fashion choices in an outdoor street front setting or a hybrid indoor/outdoor experience. Highstreet has been a benefactor of this larger global trend. 

Kwiatkowski explains that "the successes of innovative, international brands at Highstreet like H&M and Sephora helped to secure F21 Red and have contributed to an increase in customer traffic of over 20% in 2015. As a result, we anticipate a number of exciting new leasing announcements in the coming year."

About Highstreet

Highstreet brings the future of urban lifestyle shopping to the Fraser Valley with an extraordinary open-air retail, dining and entertainment experience. The three level, 600,000 square foot centre features award-winning streetscapes and architecture and best-in-class event programming all year long. Anchor tenants include Sephora, Walmart Supercentre, London Drugs, H&M, OLD NAVY and Cineplex VIP Cinema.

About Forever 21

Founded in Los Angeles in 1984, Forever 21's first location measured only 900 square feet. It has grown substantially with sales in excess of $3.7 billion in 2013, employing over 30,000. Remarkably family run, its founders now have an estimated net worth of $5.1 billion. Forever 21 has almost 500 U.S. stores and operates 31 Canadian locations coast-to-coast.

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