Senior business executive Michael W. Kramer has developed business opportunities and critical partnerships for high-profile companies including JC Penney, the Kellwood Company, Abercrombie & Fitch, and Apple, Inc. Currently, Michael W. Kramer is chief financial officer of Forever 21, a fast fashion retail company headquartered in Los Angeles.
People who love fashion have long kept an eye on trends revealed at Fashion Week events in the spring and fall. However, not everyone who loves high fashion can afford the styles seen on the runways.
Enter fast fashion. Popularized during the late 1990s and early 2000s, fast fashion brings cutting-edge trends to the masses with affordable, quickly changing product lines.
Traditionally, stores have introduced new offerings in the spring/summer and fall/winter seasons. Fast fashion, however, churns out new releases in dozens of micro seasons, giving consumers more opportunities to shop, discover deals, and score the latest trends.
The fast fashion approach appeals to the consumer’s tendency to enjoy shopping as entertainment. When the latest styles are constantly being introduced at affordable prices, consumers are more likely to buy clothing. They also are more likely to revisit stores numerous times throughout the season, knowing they always will find something new.
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