30. Vera Wang
Year Established: 1990
Store Closures: 50 Branches*
Vera Wang declared that by 2021, it would close fifty of its outlets. The retailer desires to give its licenses greater priority than its physical locations. Vera Wang came out of the 2019 retail collapse largely untouched. In 2019, 9,300 locations shuttered, but the luxury business had very few closures. Vera Wang gained notoriety for creating elegant bridal dresses. Vera Wang gowns are still for sale as of summer 2021 in retailers like Neiman Marcus, SOYOO Bridal, and others. Nevertheless, there may be more cuts to Vera Wang’s actual presence in stores in 2022.
30. Vera Wang
31. Zara
Year Established: 1974
Store Closures: 1,200 Branches*
Zara was dubbed the most recent “retail victim” of 2020 by FastCompany.com. By the new year, the apparel retailer will have closed all 1,200 of its stores in favor of an increased emphasis on online sales. The Spanish firm Inditex, the owner of the brand, stated that it intends to adopt a more contemporary strategy for its fashion brand in 2021. When Inditex noticed a 44% decline in in-store sales, it decided to go completely digital. In 2021, the parent company declared that it would put $3 billion into the Zara online stores. This is another “fast-fashion exit” from the realm of physical sales, as Glossy described it. As 2022 approaches, a few stores in various territories are still open, but there may be more closures on the horizon.
31. Zara
