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New Image Investments has invested $3.8 million in the Israeli fashion label Irit.
24 Nov '05
1 min read
Hong Kong based New Image Investments, under Chinese and ex-Israeli possession, has invested $3.8 million in the Israeli fashion label Irit.
New Image Investment possesses a textile unit in Hong Kong that manufactures international fashion brands marketed in South America, Australia and New Zealand. New Image Investments also has real estate in North America.
On account of the deal, New Image Investments, and Irit owners Irit Simon, and Zvika Asor will each own 33% of Irit. Under the agreement, New Image Investments' Hong Kong factories will manufacture part of Irit's collection.
By starting new stores and investing NIS 5.5 million in advertising, the Irit fashion chain has increased swiftly over the past two years.
Irit's turnover is NIS 36 million, and the chain intends to start 20 stores by the end of next year.
New Image Investment possesses a textile unit in Hong Kong that manufactures international fashion brands marketed in South America, Australia and New Zealand. New Image Investments also has real estate in North America.
On account of the deal, New Image Investments, and Irit owners Irit Simon, and Zvika Asor will each own 33% of Irit. Under the agreement, New Image Investments' Hong Kong factories will manufacture part of Irit's collection.
By starting new stores and investing NIS 5.5 million in advertising, the Irit fashion chain has increased swiftly over the past two years.
Irit's turnover is NIS 36 million, and the chain intends to start 20 stores by the end of next year.
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