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Forever 21 to shut Chinese online business

US young fashion retailer Forever 21 has announced that it will close its online stores on Chinese ecommerce sites Tmall and JD.com on April 29. 

The official Forever 21 Chinese site will also be shut down, Asia Times has reported. It is unclear whether Forever 21 will remain in the Chinese market. The move came after it terminated its operations in Taiwan last month after nearly four years of operation. 

The retailer has put products into Sale both online and in its Chinese physical stores. It currently has 11 stores in China. 

Forever 21 has recently reviewed its UK store portfolio, considering options of downsizing or pulling out of the UK entirely. It announced in January that it will only close its Dublin store. 

The business made a loss of £29m in the year to 28 February 2016, according to its most recent accounts filed with Companies House.

 

 

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