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10 Champion sportswear stores in three years
05
Aug '10
Champion, which is a global sportswear label, is likely to launch around 10 independent stories in Israel within the next three years.

The H&O chain, which is controlled by Livnat family, a partner in IDB Holdings, and it has the rights to market the aforesaid global sportswear brand. Around NIS 20 million ($5.24 million) will be invested in the coming three years to bring the brand to Israel.

The firm has a global yearly turnover of more than $2 billion, and is also one of the sponsors of the International Basketball Federation World Championship – 2010, which will be held in Istanbul in August. The firm is also the key sponsor of the American National Basketball Association.

Livant family and H&O's management decided to procure franchise rights to more global brands, so as to strengthen their chain to compete with other brands like H&M, which is also a family brand. H&O's yearly turnover sums to about NIS 550 million ($144 million).

As per Nitzan Hadas, CEO of H&O chain, the need to strengthen themselves with global brands and not just depend on the chain's international brand, had become vital. Currently, Champion runs 157 concept stores in Germany, Spain, Holland, Italy, Lebanon, Eastern Europe and Kuwait.

During the first phase, Champion outlets will be manned within few of H&O's 34 branches across the nation. Later within a year, the chain is intending to commence launch of flagship stores, with an aim of having atleast 10 Champion stores function in Israel, within three years. These stores will display a variety of t-shirts, sweatshirts, training suits and the like.

Of the total H&O's sales, sportswear sums to around 20 percent, a key reason for the firm to choose the brand Champion.

Fibre2Fashion News Desk - India

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