After years of question marks surrounding the future of one of the most recognizable branches in Tel Aviv, the Hamashbir chain announced that it has signed an agreement to extend its operations in Dizengoff Center for two additional years – this time in the format of a permanent outlet store.
The branch, which is considered one of the icons in the Israeli retail sector and has operated at the location since the opening of Dizengoff Center in 1977, spans an area of approximately 2,000 square meters and will continue to operate in the heart of Tel Aviv with an emphasis on surplus, discount promotions, and lower prices throughout the year.
According to Hamashbir, the move is designed to adapt the chain's operations to changes in consumption habits and the growing demand for discounted, accessible shopping in city centers. Unlike traditional outlet complexes that are usually located outside major cities, the new branch will offer an outlet experience in the heart of a bustling commercial area with particularly high shopper traffic.
However, the cosmetics department in the branch will continue to operate in the chain's regular format and not as part of the outlet concept.
Concurrently, the chain announced that it is conducting negotiations to open a new concept store with an area of approximately 600 square meters, which will combine Hamashbir and the fashion brand Kenneth Cole.
Rami Shavit, Chairman and controlling shareholder of Hamashbir, stated that "Operating the branch in an outlet format is a business move that allows the chain to streamline costs, improve profitability, and adapt the operating model to changes in the retail market. The extension of operations reflects our confidence in the potential of the location and the customer base."