(photo credit: CITOBUN/WIKIMEDIA COMMONS)
The first branch in Israel of Urban Outfitters will soon open in Israel. Fox-Wizel Ltd. (TASE: FOX) today reported that it had signed three 10-year franchise agreements with the Urban group. Fox will operate stores selling three brands in Israel: Anthropologie, Urban Outfitters, and Free People, and will sell the brands in Fox's virtual shopping mall, which is currently being set up. Fox plans to establish a subsidiary to operate the brands in Israel.
The cost of the agreement in the first four years of the franchise is NIS 40 million.
Founded in 1970, Urban is a leading international retailer in fashion, accessories, home design, and other areas. It operates in the US, Canada, and Europe under the Anthropologie, Urban Outfitters, and Free People brands. The company operates over 500 stores and 1,400 sales points worldwide. Urban's revenue totaled $3.5 billion in 2016, and its operating profit margin was 11% of sales. Company headquarters are in Philadelphia.
Urban Outfitters is a brand of women's and men's fashions, accessories, and home goods sold in 200 stores worldwide, including 43 in Europe. Anthropologie is a fashion brand of clothing, jewelry, home furniture, and personal care and design products sold in over 200 stories worldwide, including 13 in Europe. Free People is a brand of women's clothing fashion, accessories, shoes, bathing suits, and personal care products that operates 125 stores in the US and Canada. It is sold at 1,400 sales points worldwide.