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H&M
H&M was founded in 1947 in Västerås, Sweden by Erling Persson, originally as a women's clothing store called Hennes, before merging with a hunting equipment retailer called Mauritz Widforss in 1968 and adopting the combined Hennes & Mauritz name later shortened to H&M. The company grew into one of the largest fast fashion retailers in the world, expanding across dozens of countries while also becoming known for periodic high-profile designer collaborations, teaming with major fashion houses like Karl Lagerfeld, Balmain, and Versace on limited-edition capsule collections. H&M has faced significant scrutiny over the environmental and labor impact of fast fashion production broadly, and the company has responded with sustainability initiatives including in-store garment recycling programs and a more eco-focused "Conscious Collection" clothing line. H&M's combination of its decades-long growth into a leading global fast fashion chain and its high-profile designer collaboration strategy has made it one of the most commercially and culturally significant fashion retailers in the world.
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Forever 21
Forever 21 was founded in 1984 in Los Angeles by Korean immigrants Do Won Chang and Jin Sook Chang, opening their first small store, originally called Fashion 21, specifically targeting the Los Angeles Korean-American community before rapidly expanding into a major national teen and young-adult fashion chain. The company grew rapidly through the 1990s and 2000s by offering extremely low-priced, trend-driven clothing aimed squarely at teenagers and young adults, becoming a dominant fixture of American shopping malls during that era's peak mall culture. Forever 21 filed for Chapter 11 bankruptcy in 2019 amid a broader decline in mall-based retail and rising e-commerce competition, closing a significant number of its stores, before the brand was acquired out of bankruptcy and later filed for bankruptcy again in 2025. Forever 21's combination of its origin as a small Korean-American family business and its dramatic rise and fall as a dominant American mall fashion chain has made it one of the most emblematic case studies in the broader decline of traditional mall retail.
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