H&M, Hennes & Mauritz, the design-driven clothing retailer known for high fashion style and quality basics at affordable prices, has signed its first stores in Israel with the Azrieli Group and the British Israel Mall group. The agreement is signed via Match Retail Ltd, H&M’s franchise partner in Israel.
The stores will be located at the Azrieli mall in Tel Aviv, the Malcha mall in Jerusalem and the Grand Canyon mall in Haifa. All three are planned to be opened during the Spring of 2010. The Tel Aviv store will have a commercial space of 2,000 sqm, the Jerusalem store of 1,700 sqm. Further negotiations are underway for additional locations in Israel.
"We’re extremely happy to take another important step closer to bringing H&M’s fashion and quality at the best prices to Israel" says Andrew Horesh of Match Retail.
Peer Nadir CEO of the Azrieli Mall Group said "The cooperation with the worldwide leading fashion retailer and the Azrieli Group, the leading mall group in Israel, will no doubt improve the level of fashion in Israel and upgrade the market. We feel very honored to have the flagship store and open the first stores of H&M in our strongest malls in Israel.
Arnon Toren CEO of the Azrieli Tel Aviv Center says, "I'm honored by the choice of H&M to open their first locations with the Azrieli group. The Azrieli Mall is considered one of the leading malls in Israel, located within easy reach of the country, offering exclusive retail options and many attractions. On a daily basis 30,000 visit Azrieli and I am convinced that the opening of H&M will increase the number of visitors to the mall and the satisfaction of those visitors with the offerings of the mall." Arnon Toren also added, "Malcha mall in Jerusalem offers the city and it's surrounding residents with of variety of retail choices and there is no doubt that H&M will further expand those."
Press pictures and background information for editorial use can be downloaded from www.hm.com
H & M Hennes & Mauritz AB (H&M) was founded in Sweden 1947. The company’s business concept is to offer fashion and quality at the best price. H&M is quoted on NASDAQ OMX Nordic. The H&M Group has around 1,800 stores in 34 markets. H&M has around 73,000 employees and achieved sales including VAT in 2008 of MSEK 104,041. For further information visit www.hm.com
Match Retail was formed in December 2008 with the sole purpose of opening and operating the H&M stores in Israel.
The Azrieli Group is owned by business man David Azrieli.