Dubai: As media reports said that Forever 21 will be closing most of its international locations in Asia after it filed for bankruptcy, the company’s stores in the UAE are still open.
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When contacted, a number of outlets in Dubai said they were operating normally and expected to remain open for the foreseeable future. They said there had not been mention of shutting down locations.
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The Forever 21 outlet in Dubai Mall remains closed, but the mall’s website states that it is under renovation.
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Dubai-based Sharaf Group, which brought in Sharaf DG to the market, owns the franchise license for Forever 21. Such a set-up typically means that a local company has the right to use the brand name for a certain number of years, selling its products and operating its stores while getting support from the brand.
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Costs of operations as well as a fee are paid by the company buying a franchise license rather than the brand. It is unclear, however, if Forever 21 plans to keep its franchise deals and its overall brand name.
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