French sporting goods retail chain Decathlon has reached an agreement to open its fifth Israeli store, sources inform "Globes." The 3,000 square meter store will be in Netanya and estimates are that Decathlon will pay NIS 65 per square meter for a five year lease.
Decathlon, which is managed in Israel by representatives of the French sporting goods retail chain rather than a local franchisee opened its first Israeli store 18 months ago. The 3,100 square meter store in Rishon Lezion is Israel's largest sports goods store. Since the store opened there have been constant complaints that the store lacks inventory.
The company subsequently signed leases to open two more stores: a 3,000-square meter store in the BIG Krayot center in Haifa, which opened in early December and a 3,000-square meter store in Gazit Globe's (TASE: GZT) G mall in Kfar Saba. Decathlon is also expected to move its headquarters and offices to Kfar Saba.
Three months ago, "Globes" reported that Decathlon will also open a 1,400 square meter store in 2019 in Tel Aviv in the Meier on Rothschild Tower on the corner of Rothschild Boulevard and Allenby Street. The store will be on the site of the former Allenby-Rothschild food market, which went out of business.
Last month, "Yediot Ahronot" reported that Decathlon is in talks to lease space in a new real estate project to be built in Jerusalem's Talpiot industrial zone.
Decathlon, founded in 1976 in the village of Englos near Lille, France, currently has 85,000 employees and 1,388 branches in 42 countries.
Published by Globes, Israel business news - en.globes.co.il - on January 9, 2019
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