The Children’s Place, the largest children’s specialty retailer in North America, has announced the launching of a new Israeli chain in conjunction with the local Fox fashion group, Haaretz reported.
An agreement was signed on Sunday, sealing the deal.
Fox, run by its controlling shareholder Harel Wizel, agreed to an exclusive ten-year franchise contract with Children’s Place.
The first stores are slated to open for business by March, 2014.
The Children’s Place boasts some 1,100 outlets in North America. It designs, manufactures and distributes clothing, accessories and shoes for babies and children up to age 10.
In the first stage, Fox plans to open six to 10 stores at an investment of about NIS 20 million.
This is not Children’s Place’s first venture into the region. As of May, 2013, it was operating 20 franchises in the Middle East, and is looking to expand to more countries.
In 2012 its’ sales totaled about $8.1 billion.