Castro-Hoodies Group and Renuar Group, two competing fashion retailers, announced a first-of-its-kind partnership to launch ANTA in Israel. The Chinese sportswear giant has annual sales of about $11 billion, with roughly 10,000 stores in China and another 250 outside the country.
Under the agreement, Castro-Hoodies will hold a 51% stake in the new subsidiary, Renuar will hold 39% and Israel Chen, a partner in ING, will hold the remaining 10%. The companies will jointly handle wholesale distribution of the brand, establish a chain of stores and launch an online sales site in Israel, with an initial investment estimated at about NIS 30 million. Operations are expected to begin during 2027.
A store of Chinese sportswear brand ANTA
(Photo: Courtesy of ANTA)
ING, in which Renuar holds a 50% stake, until recently served as the Israeli franchisee for Swiss athletic footwear brand On Cloud, a franchise that is soon set to transfer to the George Horesh Group. Under the new agreement, ING will sell the subsidiary assets including stores, technology infrastructure and showrooms, which will be converted for use by the Chinese brand. The subsidiary will acquire the rights to the retail locations and absorb some of ING's employees and operational infrastructure.
Israel Chen, a partner in ING who introduced the On Cloud brand to Israel, will be appointed CEO of ANTA's Israeli operations.
Yair Ohayon, CEO of Castro-Hoodies Group, said: "We are pleased with the strategic partnership with Renuar Group and Israel Chen in bringing the ANTA brand to Israel. The combination of the partners' experience, capabilities and deep familiarity with the retail and sports markets will allow us to build a strong foundation for the brand from the outset and make one of the world's leading sports brands accessible to Israeli consumers."
Serge Deri, CEO of Renuar Group, said: "When Castro-Hoodies Group invited us to join it in establishing the Israeli operations of sports giant ANTA, the partnership seemed natural to us and a direct continuation of the path we have already taken with Israel Chen, who founded ING about a decade ago and turned it into a leading and successful player in Israel's sports sector, developing brands such as On Cloud.
"ANTA is one of the world's largest sports companies and a leader in the Asian market thanks to its combination of contemporary fashion, technological innovation and accessible pricing. We believe the combination of ANTA's strength and the capabilities of the partners in Israel will allow us to build a strong and significant brand here, offering a new and refreshing response to the needs and tastes of Israeli consumers. We are pleased to embark on this joint venture and believe there is a major opportunity to bring something new to Israel's sports market."