Children's Place to open stores in Israel
The Competition in Israel 's children's wear market is
heating up: A week after the Castro fashion chain announced the launch of a
children's clothing line, the Fox Group has received the franchise for The
Children's Place (TCP), the biggest brand of kids' apparel and accessories in
North America.
The American chain's sales totaled more than $1.8 billion
in 2012 and it employs some 18,300 workers.
The chain is expected to be launched in Israel in March
2014 with six to 10 stores at a total investment of up to NIS 20 million (about
$5.5 million).
"I have been working on receiving this franchise for
an entire year," Fox CEO Harel Wizel told Yedioth Ahronoth. "We are
talking about the leading children's wear brand in the US which will bring
innovations and excitement to the children's fashion market in Israel."
Asked whether the new chain would not compete against his
Fox Kids brand, Wizel replied: "When we brought American Eagle, people
also asked if it won't compete against Fox. And doesn’t ZARA Kids compete? And
H&M and Castro?"
The Children's Place manufactures clothes for babies and
older girls and boys at affordable prices, in addition to a variety of
accessories, including shoes.
The brand's stores will measure some 200 square meters
(about 2,150 square feet) in size, giving them an advantage over competitors
like Castro, ZARA and H&M, which sell their children's apparel in a
store-within-a-store concept.
Jane Elfers, president and CEO of The Children's Place,
said that growing in the international market was one of the company's key
targets and that Israel had developed children's fashion market. She added that
she saw the Fox Group as the right partner due to its proven success in
managing fashion brands in Israel.
The Children's Place entered the international market in
2012 and has 20 franchise stores in the Middle East. The chain operates more
than 1,100 stores in the United States and Canada and is publicly traded on the
NASDAQ exchange at a value of more than $1 billion.
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