The Fox-Weizel Ltd. (TASE: FOX) group, controlled by Harel Wizel, is negotiating to rent a 1,300-square meter store of international chain Anthropologie in the TLV Gindi mall, including three years of exclusivity for the brand, sources inform "Globes." The extensive store will replace a branch of US fashion chain Forever 21 that operated in the same location.
The Forever 21 store occupied over 2,000 square meters. In addition to the Anthropologie part of the contract, an agreement was also signed with Oysho, another international chain from the Zara group. The chain is leaving the mall after drastically cutting back its activity in Israel over the past year, including closing down branches in the Ayalon shopping mall in Ramat Gan, the Malha shopping mall in Jerusalem, and the Grand Canyon mall in Beer Sheva.
Also opening up in the space vacated by Forever 21 is a branch of the Shilav chain, controlled by Ronen Elad. Fox-Weizel is expected to complete its acquisition of half of the holdings in it in the coming weeks, subject to approval from the Antitrust Authority.
Anthropologie, an international fashion brand from the URBN group, last year signed exclusive franchise agreements with Fox-Weizel, which received franchise to import additional brands belonging to the group: Urban Outsiders and Free People. The chain, which features fashion, jewelry, furniture, and personal care products, has over 200 stores worldwide.
Other tenants are also seeking to leave the TLV Gindi mall, including Carolina Lemke and Top Ten from the Castro-Hoodies group. Negotiations are taking place for sale of a controlling interest in Gindi Investments whose main asset is the mall, following weak results that included a NIS 4.5 million loss in the first quarter of 2018.
Published by Globes [online], Israel business news - www.globes-online.com - on May 23, 2018
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