Reebok to close all Israel stores, focus on online sales
Five of the brand's retailers will be closed altogether, while the other two will be converted into Adidas outlets.
By JERUSALEM POST STAFFReebok sneaker.(photo credit: Wikimedia Commons)
Popular clothing and sports shoe brand Reebok will be shutting down all seven of their stores in Israel as they shift to online sales, Globes reported.Reebok, whose Israel operations are managed by brothers Shalom and Gideon Moliov as well as Adidas, decided to shift their business strategy to prioritize online shopping as there isn't enough of a demand to justify retail locations in the country. In addition, the economic crisis sparked by the coronavirus pandemic exacerbating the lack of profit generated by the stores.In contrast, however, Reebok's online sales through sites such as Adika, Factory 54 and One Project have risen in recent months, giving the Moliovs further incentive to shift to an online-focused strategy.Five of the brand's retailers will be closed altogether. These stores are located in Dizengoff center, the Tel Aviv Port, Rehovot's Ofer Mall, Grand Canyon in Beersheba and the Azrieli Mall Rishonim. The other two stores will be converted into Adidas outlets, Globes reported. Adidas has an 85% stake in Reebok Israel, with the other 15% being owned by the Moliovs.
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