The foreign brand names include Filene's Basement, and Value City Department Stores.
Sources inform “Globes” that the new Hamashbir Lazarchan, owned by Rami Shavit, is about to outsource the management of its household utensil departments to an import specialist in the field. Poor purchasing agents made the departments a big money-loser for the chain under its previous ownership.
Hamashbir Lazarchan is consequently making an effort to entrust the handling of all its household utensils to a purchasing and trade specialist. The chain does not wish to deal in this field, preferring to concentrate on retail trade. It was also reported that Shavit wishes to brand some Hamashbir Lazarchan branches with foreign retail brand names, including Filene’s Basement, and Value City Department Stores, two department stores belonging to Schottenstein Stores Corp., owned by chairman and CEO Jay Schottenstein. Hamashbir Lazarchan is about to sign a purchasing cooperation agreement with Schottenstein.
Published by Globes [online] - www.globes.co.il - on June 25, 2003