People cross a junction in front of advertising billboards in the Shibuya shopping district in Tokyo.
(photo credit: REUTERS)
Israeli shoe and sandal manufacturing giant Teva Naot is expanding its operations in the Japanese market.
The company announced recently that it will be opening its fourth retail branch in Tokyo. Teva Naot said it will be investing $300,000 in the new store.
The Israeli retailer now has three stores in the Japanese capital and one in the city of Nara, which is located in the Kansai region of Japan.
All of the stores are designed in boutique fashion and the shoes are manufactured by hand using quality material.
In 2015, Teva Naot sold in excess of NIS 14 million in Japan. Its projections for 2016 indicate that the company is aiming for a turnover of between NIS 18 - 20 million.
The Israeli chain produces specially designed shoes for the Japanese market, including 20 different models that were tailored according to local specifications and trends.
Michael Iluz, Teva Naot's CEO, said that the Israeli brand has garnered tremendous popularity among Japan's business and celebrity class. In the last year, the company has invested $250,000 in advertising campaigns and special catalogues aimed specifically at the Japanese market.
Teva Naot has proven especially active in the Far East, particularly in South Korea. The company signed a distribution agreement with one of the largest sales chains, HLMC.