Michael W. Kramer is a senior executive who has achieved sustained results in boosting shareholder value for the companies he has led. The chief financial officer with Forever 21 since 2016, Michael W. Kramer has engineered a major turnaround and worked with several leading banks in facilitating a new asset-backed loan revolver worth $500 million.
Forever 21 was in the news recently with the announcement that it would partner with Frederick’s of Hollywood in selling its Megan Fox collection at retail locations. After filing for bankruptcy, the intimate apparel brand was acquired for $22.5 million by the Authentic Brands Group in 2015.
Having presented sketches and samples of what would be on display, brand stakeholder and ambassador Megan Fox described the collaboration as presenting excellent synergies. In particular, she looked forward to introducing Frederick’s of Hollywood to Gen Z and millennial consumers who might not know the iconic brand, but were likely to find the designs and ethos compelling. Fox connects with a wide range of women who identify with her message of self empowerment and embracing one’s identity.
With items priced in the $16-$70 range retail, the pieces can be worn as regular apparel or innerwear. With the Forever 21 partnership, which will include live Megan Fox appearances, Frederick’s of Hollywood will be reintroduced to mall settings, where it once had a significant presence.
