Victory launches neighborhood store sub-chain in Tel Aviv

Eyal Ravid  credit: Dan Miller

By the end of 2023, the Victory City chain is planned to have 50 branches throughout Gush Dan.

Supermarket chain Victory has announced the launch of a sub-chain of neighborhood grocery stores to be called Victory City. The company has signed agreement son ten locations in Tel Aviv and is negotiating on potential locations in other cities in Gush Dan.

By the end of 2023, the Victory City chain is meant to number 50 branches, each of about 300 square meters, and to add some NIS 500 million to the company's annual sales. Victory will finance the new sub-chain from its own resources, and will also examine the purchase of stores that suit its format from small retailers.

Victory CEO Eyal Ravid said, "Setting up Victory City is a strategic decision that will deepen the company's deployment in the center of the country. The sub-chain will accelerate the chain's growth, with an immediate contribution to the expansion of its activity, the improvement of its terms of trade, raising proceeds per square meter and profits, as soon as this year."

Published by Globes, Israel business news - en.globes.co.il - on July 19, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

Eyal Ravid  credit: Dan Miller
Eyal Ravid credit: Dan Miller
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