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Forever 21 ranks No. 58 on retail growth list

August 5, 2015

Korean-owned clothing retailer Forever 21 ranked No. 58 in the National Retail Federation’s annual list of Hot 100 Retailers, based on sales growth rate.

The list, published Tuesday, ranked Hudson’s Bay, which reportedly saw a 254.1 percent rise in sales compared to last year, at No. 1.

Hudson’s Bay brought in $7.9 million from 2013 to 2014.

Choxi.com, formerly NoMoreRack.com, ranked No. 2, at a 102.6 percent growth and with $689,900 in sales.

The top 10 included Zulily, G-III Apparel Group, Wayfair, AT&T Wireless, Office Depot, Signet Jewelers, Men’s Wearhouse and Northern Tool and Equipment.

Forever 21, founded by Chang Do-won and Chang Jin-sook, was the only Korean-owned business on the list at a 9 percent growth. It pulled in $2.9 million in retail sales worldwide and possesses 489 stores.

The low-cost, popular retailer helped Chang Do-won and Chang Jin-sook rank No. 5 on a list of wealthiest people in Los Angeles, compiled by L.A. Business Journal, earlier this year.