From Migrant To Megarich, Success Story Of Do Won Chang CEO Forever21

Rags to Riches Series;
Growing up in South Korea, Do Won Chang had to work three jobs as a janitor, gas station employee, and coffee shop attendant to support his family when they moved from Korea to America in 1981 at age 18, he figured hot joe would be his ticket to the American dream. Flashy Mercedes-Benzes and BMWs changed his mind. “I noticed the people who drove the nicest cars were all in the garment business,” Chang said.
After three years of thrift-spending, he was able to open his first retail store Fashion 21, which grew to be the retail clothing giant Forever 21, a pioneer in fast fashion.
The economic downturn forced Chang to make some cuts. The company ended 2009 with seven fewer stores than the year before. Still, revenue is climbing. In the last fiscal year, Forever 21 posted $1.7 billion in sales. It projects revenue of $2.3 billion this year. Much of that is from aggressive expansion — Chang is eyeing Israel and Hong Kong, for example. Equally important is a broad lineup. In addition to Forever 21, the chain has seven other formats, each serving distinct breeds of mall rats, including XXI Forever, which focuses on higher end couture lines, and Heritage 1981, featuring vintage-styled clothes.
The multinational clothing empire with over 480 outlets worldwide generates an annual income of $3 billion.
My Thoughts..
START SMALL; Most great businesses started small, start your big dream small.
The question is do you have a clear cut vision of what you want to do and are you willing to pay the price??
This idea of just winning a “Big Contract” or Getting “Stupendous Wealth” overnight that wasn’t worked hard for isn’t going to happen…
…lets start thinking,lets start moving. What do you think?

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