Forever21 wants to open its Israel flagship store in the Azrieli Center in Tel Aviv.
US fashion chain Forever21 Inc. is following H&M, Gap, and American Eagle to Israel. Sources inform ''Globes'' that the company has made the decision to enter the local market and that it has resumed negotiations with franchisee New Hamashbir Lazarchan Ltd. (TASE:MSZB) to open a chain.
The sources added that Forever21 owners have again visited Israel, a year after they first visited, to look at suitable locations. The Forever21 brand is youth oriented and considered a direct competitor of H&M because of its low prices.
Forever21 wants to open its Israel flagship store in the Azrieli Center in Tel Aviv, the mall that H&M chose for its first store in Israel. In view of this condition, Hamashbir agreed to vacate its branch in the mall in favor of Forever21.
Published by Globes [online], Israel business news - www.globes-online.com - on August 12, 2010
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