Yaakov Halperin
צילום: משה כהן
Halperin Optics opens stores in Bulgaria
Israeli optics chain opens two new branches in Sofia under brand name 'Optic 1' at investment of half-a-million euros. Three more branches in Varna, Bulgaria in planning
After opening branches in New York City, Israeli optics chain Halperin Optics has decided to expand to Europe, and last week opened two new stores in Sofia, Bulgaria under the brand Optic 1, and at an investment of €250,000 ($323,000) each.
The company plans to open a total of five stores in the eastern European country, with three of them in the Black Sea coastal city of Varna. The stores will remain under the company's sole ownership, with four branches located on main streets and one inside a Varna shopping mall.
Unlike Brooklyn, where the company opened its branches in Jewish neighborhoods where the name Halperin is familiar, Halperin Optics decided to go with a more universal brand name for their product in Europe.
The company will invest some €18,000 ($23,000) a month in outdoor advertising and a campaign will also be launched in local radio stations.
The chain in Bulgaria will be run by Shmuel Halperin (37), the brother of Yaakov Halperin, the company's CEO. "It's only a two-hour flight," Shmuel said. "And that's another reason why we chose this location that's close to Israel."
Another reason for the expansion to Bulgaria is that the country is expected to join the Euro bloc in the near future. At this point in time the company has no plans of opening stores in other European countries.
Yaakov Halperin said Sofia was a favored shopping destination among European consumers because it offers a large variety of international brands at lower prices than other continental capitals.
Halperin said he is not afraid of the timing of the expansion, and said he viewed the economic crisis as a good opportunity to expand abroad. "Glasses are a consumer product, and I will sell fashionable models 40% - 70% cheaper than similar models by international brands," he said.
