Fox continues to expand: will open Flying Tiger Copenhagen chain of stores in Israel

Fox, which is controlled by the Wiesel and Fox families, continues to expand: the company has signed a memorandum of understanding for a concession to establish and operate the Flying Tiger Copenhagen chain of stores in Israel, with the concession period being 5 years with an option to extend for another 5 years. Fox Group will purchase the Products directly from Flying Tiger or its authorized suppliers, and will pay it a monthly rate of total sales, as agreed in the agreement.
Flying Tiger was founded in 1995 and is headquartered in Copenhagen, Denmark. The chain operates 900 stores in about 28 countries in Europe and Asia, with a unique concept of selling lifestyle products, such as home and office products, toys, party accessories, electronics, fashion accessories and art kits at attractive prices. Fox explains that the chain stores are built in the shape of a maze and offer an exciting experience, and that its products in the store are constantly renewed.
In 2020, Fox announced the closure of three international networks of the American URBN Group - Urban Outfitters, Anthropology and Perry People. Fox realized that the activity of the premium brands is not expected to contribute significantly to the results in the challenging economic period of the Corona, where the middle class works from home.
"Absolutely not, there's no price strategy here. It's just a brand we've loved for a few years," says Mikey Ben-Ari, VP of Business Development and Innovation at Fox. "We flirted with Flying Tiger even before the low-cost trend. This is a strong brand with a unique branding, which is sold in many stores around the world and is very well known by Israelis, this is a very important consideration for us. "