Chanel to open first stores in Israel

Chanel Photo: Shutterstock ASAP Creative
Chanel Photo: Shutterstock ASAP Creative

The French fashion chain will open stores in the TLV Gindi and Ramat Aviv shopping malls.

French fashion chain Chanel is opening a store in the TLV Gindi shopping mall in Tel Aviv, sources inform "Globes." The new store will have 80 square meters, replacing a store of the Billtornade brand, which will move to another location in the mall vacated by Rami Levy Chain Stores Hashikma Marketing 2006 Ltd. (TASE:RMLI).

Chanel will also open a store in the Ramat Aviv Mall, owned by Melisron Ltd. (TASE: MLSR), on the ground floor opposite a Nike store. The two stores, which are currently being renovated, will apparently sell Chanel's personal care products and accessories.

The Alpha group, managed by Ronen Shamir, is bringing the French brand to Israel. Alpha manufactures, imports, and markets a variety of cosmetics and toiletries from a wide range of brands, including Chanel, which was hitherto marketed in Israel through sales stands in pharmacy chains, not independent stores. The Alpha group is also the importer of fashion brands, such as Longchamp, Desigual, and Superdry, as well as the Tous jewelry chain. Alpha Cosmetics has an independent distribution network, and currently has 650 employees. The company's factory and distribution are located in Karmiel, while its sales, marketing, and training offices are in Herzliya Pituah.

Chanel is a private company founded 108 years ago and owned by brothers Alan and Gerard Wertheimer. The company said that its sales totaled $9.6 billion in 2017, with an operating profit of nearly $2.7 billion. In recent years, the French chain has begun opening Beauty stores with personal care products. The first branch was opened in Paris four years ago. Last November, the first Beauty store in the Middle East opened in a shopping mall in Dubai.

The TLV shopping mall did not respond to the report. No response from the Alpha group was available as of web posting.

Published by Globes, Israel business news - - on January 23, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

Chanel Photo: Shutterstock ASAP Creative
Chanel Photo: Shutterstock ASAP Creative
Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018