Sources inform ''Globes'' that Swedish fashion brand H&M, owned by Hennes & Mauritz AB (OMX: HMB), is moving toward opening a store in the Arena Mall in Herzliya Pituah, after representatives of the company visited the mall to approve the location in principle.
The H&M representatives also visited locations in Jerusalem, the Dizengoff Center, the Kanyon Hazahav in Rishon LeZion, the Seven Stars Mall in Herzliya, the upscale Gan Ha'Ir Mall in Tel Aviv, the Grand Kanyon in Haifa, the G Kfar Saba Mall, the Big mall in Nazareth.
Representatives of Gap Inc. (NYSE: GPS) also visited the Arena Mall recently.
The Arena Mall is owned by Israel Financial Levers Ltd. (TASE:LVR), whose controlling shareholder, Jackie Ben-Zakan said in response, "The moment it was learned that these two chains were coming to Israel, everyone sought them out, because they're important stores in any mall. We're also in talks with them, and even moved beyond the talk stage. We assume that they'll ultimately pick the best locations, and I definitely see the Arena Mall as one of the best."
H&M Israel franchise-holder Andrew Horesh declined to comment on the report.
Published by Globes [online], Israel business news - www.globes-online.com - on April 22, 2009
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