Korea’s Forever Fashionista
“I have in the past overly trusted people and was, in turn, let down by some. Since then, I have learned the difference between putting faith into people and blindly trusting them.”
Born March 20, 1954, is a billionaire Korean-born American businessman. He founded the clothing store chain Forever 21 with his wife Jin Sook Chang.Do Won Chang originally belongs to South Korea. He never had a big life in his own country either. In fact, he grew up working in coffee shops. When Chang immigrated to the United States with his wife Jin Sook Chang, he knew he wanted to do some kind of business. He decided upon retail when he saw the businessmen driving swankiest cars in town. This was the sole reason he took up the garment business, as stated in many interviews.
Chang is proud to have added his chapter to an American classic: the immigrant success story. “Forever 21 gives hope and inspiration to people who come here with almost nothing,” said Chang, who lives in a $16.5-million home in Beverly Hills and never went to college. “And that is a reward that humbles me: the fact that immigrants coming to America, much like I did, can come into a Forever 21 and know that all of this was started by a simple Korean immigrant with a dream.”
“You can’t go into business thinking that success will come to you in just one or two years,” said Chang, who insists that a deep understanding of business and legal culture was key to his success. Retail, he said, “is like a marathon, not a 100-meter dash.” Success didn’t come without struggle. Chang’s company has been accused of copying high-end designer garments and sued several times over copyright issues (the matters were settled out of court). But Chang says that the biggest challenge is the sheer speed of change. “Everyone wants something different, and they want it immediately,” he said. “You have to be very fast because other retailers are right behind you.”
INSPR 