Fashion retailer Fox-Weizel Ltd. (TASE: FOX) plans to launch US brand The Children's Place in Israel by Passover 2014, and to invest NIS 20 million in the venture over five years.
Children's clothing prices in Israel will fall by 10-20% over the coming years, Zvika Shweimer, the CEO of Delta Galil Industries Ltd. (TASE: DELT) unit Delta Israel Ltd. told "Globes". His prediction is based on the entry of The Children's Place to Israel, and an earlier announcement by Fox-Weizel's rival, Castro Model Ltd. (TASE: CAST), that it will launch a new children's fashion chain in August.
The Children's Place, founded in 1969 in New Jersey, is one of the largest children's clothing chain in North America, offering a wide range of basic and fashionable clothes to boys and girls from infancy through to the age of 10. It operates as a one-stop-shop for apparel, accessories, and footwear. It had 1,095 stores worldwide in February 2013 as well as online operations.