LAEDC Honors Forever 21 Founder
The Los Angeles County Economic Development Corp. announced it will honor Do Won (Don) Chang, founder of Los Angeles–based retailer Forever 21, with an Eddy Award Nov. 10 at the Beverly Hilton in Beverly Hills.
Chang is the first apparel executive to be honored with the Eddy Award, which the LAEDC presents to those whose important achievements have contributed to Los Angeles County’s economic development, said Bill Allen, president and chief executive of the LAEDC.
“Do Won and Jin Sook Chang [Chang’s wife and Forever 21 co-founder] epitomize the American dream and the entrepreneurial, creative spirit that permeates Los Angeles County,” Allen said. “Forever 21 represents an important segment of the region’s economy, and the Changs’ leadership in the fashion industry has helped position Los Angeles as the creative capital of America.”
The company started in a 900-square-foot boutique near downtown Los Angeles in 1984. By the end of 2010, it will run a fleet of 500 stores located in prestigious spots such as New York’s Times Square. By the end of 2009, the company made close to $2 billion in sales. Forever 21 offers stylish fashions for women, men and children at a low price. The company also manufactures higher-end lines such as Love21 and Twelve by Twelve, which it sells at its stores.
Kaiser Permanente also will be honored with an Eddy this year. The healthcare and managed-care provider is Los Angeles County’s largest private employer.
For more information on the gala awards event, contact the LAEDC’s Marilyn McPoland at (213) 236-4812.—Andrew Asch
