Prestigious fashion brand Louis Vuitton is on its way to Tel Aviv's Ramat Aviv Mall. Sources inform "Globes" that the head of Louis Vuitton in Europe recently visited the mall, and that it was agreed in principle that a brand store would open there. However, no contract has yet been signed.
The initiative to bring the brand to Ramat Aviv came from Liora Ofer, CEO of Melisron Ltd. (TASE: MLSR), which owns the mall. Ofer believes that the Louis Vuitton brand is important and will contribute to the mall's image. Melisron contacted Louis Vuitton in France directly, a move expected to result in the brand coming to the mall.
The Louis Vuitton store is expected to open in December 2011. Louis Vuitton asked to be allocated floor space of 400 square meters, but the store may actually be smaller.
Louis Vuitton already has one store in Israel, in Kikar Hamedina in Tel Aviv. The store, which opened nine years ago and is spread over three floors, is considered a success. However, the brand is not active in any mall in Israel.
The Louis Vuitton brand was founded by Louis Vuitton in 1954. Vuitton died in 1992, but the brand has steadily strengthened. The company had a turnover of €1.98 billion in 2009. Its product lines include shoes, handbags and luggage, watches, jewelry, and sunglasses.
Ramat Aviv Mall declined to comment on the report.
Published by Globes [online], Israel business news - www.globes-online.com - on July 21, 2010
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