The RSH group operates 700 stores in Australia and the Far East, specializing in fashion brands such as Mango/MNG and Zara.
Fashion chain Fox-Wizel (TASE: FOX) today took another step towards exporting its brand name to Australia and the Far East. It was also a significant step in international relations, because a subsidiary of a company from Dubai will establish the chain in Australia.
Fox signed an memorandum of understanding with Royal Sporting House (RSH) Australia granting it the exclusive franchise to open Fox stores in Australia. The first stores will be opened in November 2004. Fox expects 40-50 stores to open in the next three years. The RSH group operates 700 stores in Australia and the Far East, specializing in international fashion brands including Mango/MNG and Zara.
A “Globes” inquiry showed that the subsidiary is owned by a group of Dubai businessmen headed by Mohamed Ali Rashed Alabbar, who is also director general of the Dubai Department of Economic Development.
Published by Globes [online] - www.globes.co.il - on July 26, 2004