Sources inform "Globes that local fashion retailer Fox-Wizel Ltd. (TASE:FOX) has been awarded the Israel franchise by US fashion company American Eagle Outfitters (NYSE: AEO). The agreement has already been signed. Fox has for some time sought to bring a leading international retail brand name to Israel.

In winning the franchise Fox beat off competition from Elbit Trade and Retail Ltd. and New Hamashbir Lazarchan Ltd. (TASE:MSZB), who were both in talks with American Eagle.

American Eagle was founded in 1977 and today has 1,100 stores in the US and Canada. The company's fashion brands target young and trendsetting men and women aged 15-28. American Eagle only recently opened its first store outside North America in the United Arab Emirates.

Fox plans opening its first American Eagle outlet in the Ramat Aviv Shopping Mall in North Tel Aviv in 2012.

Fox's share price was unchanged on the TASE this morning at NIS 14.20.

Published by Globes [online], Israel business news - www.globes-online.com - on July 1, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010