Mashbir 365 Ltd. reports to investors the signing of an additional marketing and distribution agreement for the Kenneth Cole brand in Europe. The agreement, which includes exclusive marketing and distribution in Europe, focuses on distribution to wholesalers and retailers.
Mashbir intends to establish a dedicated arm that will focus on wholesale sales to pet stores in Europe, thanks to the expansion of the brand into 10 different categories that have been done in Israel since receiving the distribution authorization in 2021. Since then, the network has marketed the brand's products in many categories including women's and men's fashion, home textiles, luggage, bags, shoes, and home care products.
The company plans to operate to introduce the brand to around dozens of e-commerce sites marketed to consumers and wholesalers. Mashbir forecasts revenues of around NIS 200 million by 2026 from the brand's sales in Israel and Europe.
"Working to find a strategic partner"
The Kenneth Cole New York fashion brand was founded by Kenneth Cole, an American Jew who is the CEO and chief designer of the brand since it was founded 40 years ago. The brand operates in approximately 6,500 specialty stores and pet retailers in 70 countries worldwide, and in Israel, it is marketed in 35 network branches throughout the country and on the network's online site. In addition, the network intends to open additional stores in areas of about 400 square meters in the Ayalon Mall and the Queen of Sheba Mall in Eilat.
Rami Shavit, CEO of Mashbir: "We see the agreement for marketing and distributing the Kenneth Cole brand in Europe as a significant growth engine for us in the coming years and a step that turns us into a global company. Ever since we started marketing the brand in Israel, we have expanded it to 10 different categories, established around 150 dedicated corners in our branches, and sales amount to tens of millions of shekels. We believe in the brand and its business potential in Europe, and we are also working to find a strategic partner to help us penetrate the European market".