American Eagle Outfitters. Coming soon
American Eagle to open in 4 Azrieli malls
Parties sign agreement for four US fashion brand stores in Beersheba, Ramat Gan, Jerusalem and Haifa. Brand's franchiser, Fox Fashion, to invest NIS 5 million in each store
US fashion brand American Eagle Outfitters has completed another phase ahead of landing in the Israeli market next year.
The franchiser is expected to invest an estimated NIS 5 million (about $1.4 million) in each store.
Calcalist has learned that the Fox Group signed an agreement with the US-based company to open four brand stores in the Azrieli mall chain: In the Negev Mall in the southern city of Beersheba, the Ayalon Mall in the central city of Ramat Gan, the Malcha Mall in Jerusalem, and the Haifa Mall in northern Israel.
Another Arrival
Orna Yefet, Calcalist
US company planning to open 15-20 store chain. Founder and CEO of FOX Fashion among prospective partners
Estimates on the market are that after year-long talks, Fox Group agreed to pay the Azrieli group NIS 200-300 ($55-85) per square meter. The size of each store will measure 600-700 square meters (6,450-7,500 square feet) in size.
The Azrieli Group will relocate stores in the abovementioned malls to vacate the space for the American Eagle stores.
Fox owner Harel Wizel has agreed to open 10 additional stores with other mall chains as well. Fox recently signed similar agreements with Melisron, which operates the Ramat Aviv mall in Tel Aviv and the Raanana mall and Kiryon mall outside of Haifa. Similar agreements were also signed with British Israel and ILD.
Fox is also vying for stores in two of Israel's leading malls – the Azrieli Mall in Tel Aviv and the Grand Canyon in Haifa; however, suitable locations are not yet available in these malls.
Azrieli Malls CEO Peer Nadir said Tuesday that "the arrival of American Eagle is an important upgrade for our four malls. It's not every day that a company simultaneously signs four agreements for the nationwide opening of four stores of an international brand."
According to Nadir, the Beersheba and Haifa stores will open in the first quarter of 2012 and the Jerusalem and Ramat Gan stores will open by the second quarter of 2012.
Click here to read this report in Hebrew
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