Jin Sook & Do Won Chang Net WorthReal Name: Jin Sook & Do Won Chang
Date of Birth: 03/20/1954
Place of Birth: South Korea
2017 Net Worth: $6.5 Billion
Profession: Founder and Owner of Forever 21 fashion stores
Jin Sook & Do Won Chang Biography
Born in South Korea, Do Won Chang and his wife, Jin Sook, immigrated to the United States in 1981. In order to make ends meet, Chang worked three jobs: as a gas station attendant, a janitor, and in a coffee shop. While working at the gas station, Chang decided that he would do much better working retail. The couple took their savings and opened a small 900 square foot store in a Los Angeles suburb in 1984. The original name of the company was Fashion 21. During their first year of business, the store went from $35,000 in sales to more than $700,000.
The couple changed the store name to Forever 21 and they began to open new locations. Sook approves the fashion designs for the company, and Chang works on the business end. The couple now has more than 600 stores all around the world and estimated annual sales of more than $3.7 billion. They recently opened a store in Dubai and are working on opening locations in China as they see this as being the biggest market today.
Sook and Chang have two daughters that are actively involved in the business. Their daughter Linda is in charge of marketing and Esther is the manager of the visual display team. The family states that they are born again Christians and, for this reason, every paper bag from their stores is printed with a bible quote (John 3:16) across the bottom.
The family has had their share of problems. The company has been sued for copyright infringement more than 50 times for what is seen as copying designer runway clothing. Chang admits that they try to find “new” fashion and get the clothes to stores while they are still “hot” but denies that they have ever copied anyone clothing ideas.
Sook and Chang have a current net worth of $ 6.5 billion. Their stores, Forever 21, are one of the hottest and most trendy stores in women’s fashion today.