Israeli retailers will operate Nike stores in Europe

The company, controlled by FOX, acquired for 10 million euros the holdings of Pot Locker and will be the sole operator of Nike stores across Europe.

CEO Dubi Schneidman: "The Nike sector has a high profitability potential and we intend to open a significant number of Nike stores in Europe in the coming years"

Walla!

Of money

19/07/2022

Tuesday, 19 July 2022, 09:21 Updated: 09:46

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Harel Wiesel, controlling shareholder of FOX (Photo: Dima Tliansky)

Retailers has announced to investors in the stock exchange the acquisition of Pot Locker Europe's holdings in the joint Dutch company that operates Nike stores in Europe, for about 10 million euros.

The agreements between the parties were signed, thus completing the transaction in which the company acquired the full holdings of Pot Locker (49%) in the Dutch joint venture that operates the Nike stores throughout Europe.

The joint Nike company began operations in March 2020, right with the outbreak of the Corona virus worldwide and operates (itself and through franchisees) the Nike stores located in seven European countries.

The report to the stock exchange also updates that the company intends to open a significant number of Nike stores in Europe over the next three years, and in this context act to meet the target of 100-80 Nike stores active in Europe by the end of 2025.

Dubi Schneidman, CEO of Retailers (Photo: Nimrod Glickman)

"Strengthen the company's activities in the international arena"

Dubi Schneidman, CEO of Retailers

: "Retailers continues to expand and strengthen as a significant international player in the professional sports and sports fashion industry, through the acquisition of Pot Locker's holdings and full ownership of companies operating Nike stores in Europe.

"The Nike sector has high profitability potential and we intend to open a significant number of Nike stores in Europe in the coming years and thus meet the target of 80-100 Nike stores active in Europe by the end of 2025.

We will continue to work to identify new business opportunities and strengthen the company's operations in the international arena."

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Tags

• Harel Wiesel

• fox

• Pot Locker

• Nike