Harel Wizel: Major international brands could enter the Israeli market

Are new international brands on their way to Israel? Harel Wizel, CEO and controlling shareholder of the Fox Group, told investors that the company had been in preliminary talks with several foreign brands prior to October 7.

According to him, the security situation halted these processes, but they may resume if Israel enjoys a prolonged period of calm.

"If there is a quiet year like in Switzerland, things will return to the table and we will bring more brands to Israel," said Wizel.

Meanwhile, Fox continues to expand its portfolio of international brands. Recently, the company secured the franchise to import Dyson products to Israel and continues to explore new opportunities.

One of Fox's central projects for the coming years remains the expansion of the Jumbo chain. Although the operation is not yet profitable, Wizel confirmed the company's determination to develop this asset. Plans include opening smaller stores (about 1,200 square meters) and changing the logistics model. Currently, some goods arrive from China via Greece. Establishing a logistics center directly in China would allow products to be shipped to Israel directly, which, according to Wizel, could save the group tens of millions of shekels annually.

Regarding the Nike brand, the company does not intend to rush into opening new stores due to a global decline in sales. Fox prefers to wait for more favorable market conditions. At the same time, the group continues to expand the Terminal X platform and other assets.

In the second quarter of the year, the group recorded revenue of approximately 1.8 billion shekels and a net profit of 123 million shekels. Wizel emphasized that the company's future lies in further expanding its operations through new international brands, Jumbo, and Terminal X, which are defined as key growth engines.