The British chain has 50 stores in London and other cities.
Sources inform “Globes” that Fox-Wiezel (TASE:FOX) is negotiating a partnership with a UK fashion chain. A major investment bank is leading the deal in question, under which Fox would enter into a partnership with a fashion chain with 50 stores in London and other British cities.
The chain, whose brand has been in decline, wants to use Fox's private collection and brand. Fox CEO and controlling shareholder Harel Wiezel confirmed the report, and told "Globes", "We're taking a very close look at the UK."
Fox's pending entry into Singapore is based on a franchise only, without any investment to set up stores. Fox will only sell its products and brand. However, in the UK case, Fox plans to use a different business model: a partnership and large-scale investment.
Wiezel said, "In the case of our partner in Singapore, a franchise is the right way to go. Our model for entering Europe is similar to Castro's (TASE:CAST). If you have a partner, you must invest."
Published by Globes [online] - www.globes.co.il - on March 2, 2004