American fashion brands giant VF Corporation, which is traded on Wall Street according to a $19 billion market cap, is opening Jeanswear stores in Israel
for the first time.
VF owns famous fashion brands such as Nautica, Timberland, Lee Jeans, Wrangler, 7 For All Mankind, North Face, Reef, and others.
The company recorded a $1 billion profit in 2011 and has been reporting of improved performance for 50 quarters in a row.
VF's first two stores in Israel will open in the coming days in Eilat's Ice Mall – a jeans store offering the Lee and Wrangler brands, and a separate store for designer jeans brand 7 For All Mankind.
The company plans to open some 50 stores across Israel in the next three years, mostly through franchisees.
VF has been operating in Israel since 1997 through a subsidiary headed by Doron Mahlev, the former coach of Israel's tennis team and Israel's junior tennis champion. Its sales volume in Israel amounts to some NIS 100 million (about $26 million) a year.
Until recently, the company has been using wholesale distribution, selling its products to retailers, chains and store owners. In Israel, for example, the Sakal Group distributes the Nautica and Timberland brands, and Lee and Wrangler jeans are sold to chains such as H&O and private stores.
Now VF has decided to start selling directly to consumers through its own stores or franchisees.