Sports shoes and clothing brand Reebok is closing its stores in Israel and will switch to online sales, sources inform "Globes." The brands operations in Israel are managed by Shalom Moliov who together with his brother Gideon Moliov has a 15% stake in Reebok Israel while Adidas has an 85% stake.
The Moliovs and Adidas have decided to change their strategy as the stores have not taken off in Israel and demand for the brand does not seem to justify independent stores. With the added dampening of demand in stores caused by the Covid-19 crisis, the Moliovs are launching a dedicated website for sales of Reebok in Israel, and to close down the stores.
Of Reebok's seven stores in Israel, five will be closed down altogether and two will be converted into Adidas outlet stores. Many of the stores were only opened last year. The stores being closed are in Dizengoff Center Tel Aviv, Tel Aviv Port, Ofer Mall Rehovot, Azrieli Mall Rishonim, and Grand Canyon Beersheva.
In recent months, Reebok has seen an impressive rise in online sales from external sites such as Fox's TerminalX, One Project (owned by the Moliovs), Factory 54 and Adika, and on the basis of this, it was decided to set up a dedicated Reebok site.
Published by Globes, Israel business news - en.globes.co.il - on July 19, 2020
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