The Newman brothers increase their stake in the B-Good fashion chain to 34% at a valuation of 250 million shekels
Businessmen Even and Ricky Newman have acquired an additional 10% stake in the B-Good fashion chain, bringing their total holding to 34% at a company valuation of 250 million shekels.
Businessmen Even and Ricky Newman are increasing their holdings in the B-Good fashion chain. Calcalist has learned that the two purchased an additional 10% of the company's shares at a valuation of 250 million shekels. This marks the second investment round for the Newman brothers in the company, following their initial 2022 acquisition of 24% of shares at a 100 million shekel valuation. Now, four years later, they have increased their stake to 34%. The remaining shares are held by partners Ofir Ben Avraham and Kobi Rachmani, each holding one-third of the company.
B-Good is a family clothing chain positioned in the discount category. The chain operates 51 branches, primarily located in open-air shopping centers, with two additional branches scheduled to open next week.
Even Newman confirmed the information and explained how the company's value more than doubled within four years:
"We made many changes to the business since I joined. We opened over 20 new branches and stopped buying merchandise from local suppliers. Today, we import all items from the East, with products arriving directly from the factory to the customer. This allows us to provide attractive pricing while increasing our gross profit. Our strategy is to avoid malls and focus on open-air shopping centers, where rent is lower, which is more suitable for a discount chain."
Newman has extensive experience with discount chains. In 2014, he and his brother Ricky invested 60 million shekels in the Max Stock chain for a one-third stake. Eight years later, after gradually selling their shares, the brothers exited the company with 340 million shekels.
Kobi Rachmani, co-CEO of B-Good, stated: "The increase in the company's value is the result of consistent work and the trust of hundreds of thousands of customers. We will continue to expand and provide prices that create real value for the consumer."
