After opening a franchise of American Eagle Outfitters in Israel, Fox-Weizel Ltd. (TASE: FOX) is seeking to bring in another international fashion brand. In a notice to the Tel Aviv Stock Exchange (TASE) on Saturday night, the company said that it was in talks to acquire a franchise for German fashion chain New Yorker and open stores in Israel.
The notice is a clear signal that Fox does not plan to stop with American Eagle Outfitters, and probably not with New Yorker either, if it goes ahead and opens stores of the brand in the country.
Fox-Wizel chairman and CEO Harel Wizel considers the company as a platform for managing many more brands.
New Yorker is a German-based international fashion chain, which currently operates 931 stores under its brand. It operates in 32 countries, but a third of its stores (304 stores), are in Germany. It has a mass of stores in other countries, including 76 stores in Poland. However, in most countries, it is only just starting out with a few stores, such as Belgium (three stores), Denmark (six stores), and Italy (five stores).
New Yorker has wide-ranging men and women's fashion lines, including underwear, sportswear, swimwear, jewelry, and fragrances.
A New Yorker team visited Israel last week, and another team is due to arrive soon. Fox said, "A preliminary review of the Israeli market and of Fox Group and its managerial capabilities was completed successfully."
Published by Globes [online], Israel business news - www.globes-online.com - on July 29, 2012
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