Benetton opens its first store in Israel
(Economy in Italy)
The famous Italian clothing manufacturer Benetton Company opened its first chain store in Israel. The new supermarket from Benetton was introduced in the Dizengoff shopping mall in Tel Aviv on September 11.
Opening of the Israeli market means for the company the beginning of intense competition with earlier represented brands Zara and Castro. Israel press notes that Benetton does not intend to be limited by only one store in Tel Aviv. In the nearest future Benetton plans to present on the Israeli market 15 new stores. In the near future are expected to be opened new stores in Rishon LeZion, Netanya and Beer Sheve.
For Benetton opening of a new store is not the first attempt to conquer the Israeli market. The company had previously attempted to settle here in the early 1990s. However, due to high prices Benetton was forced to close its commercial network.
The first store of the company will be located in the area of 250-300 square meters. The amount of investments of the new franchise will be about 330 000 dollars, including advertising costs.
Along with opening its first store in Israel Benetton also presented a new advertising concept for the autumn-winter 2011 that was named Lana Sutra. As always, Benetton’s new advertising campaign is a series of provocative images, which were taken from Kama Sutra. Live installations can be seen in three large stores of the company in Milan, Istanbul and Munich.
Benetton is one of the largest companies in Italy and the world, specializing in the clothes production. In the first half of 2011 gross revenue of the company was 904 million Euros, according to Reuters. Benetton real profit was $30 million.
Ilya Kalachev
Date: 17/09/2011
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