Fox will establish a joint venture with Pot Locker Europe –...



Fox Group


Fox
+0.45%




Fox


Base:24,620

opening:24,710

Tall:25,000

low:24,050

change:5,102,499
Page Quote News Graphs Company Profile Recommendations

More articles on the subject:


Announced that its subsidiary, Retailers, which operates the Foot Locker brands and Nike’s retail operations in Israel and Canada, has entered into an agreement with “Pot Locker Europe” to establish a joint company that will operate the Foot Locker brand stores and online operations in several European countries.

51% of the new company, which will be registered in the Netherlands, will be held by Pot Locker Europe and the rest by Retailers. The new company will operate the Pot Locker brand in Poland, Hungary, Slovakia, Romania, Ukraine and Croatia. In addition, Pot Locker will transfer to the joint venture a company in Poland and another company in Hungary, which includes 7 Pot Locker stores in these countries.

The companies are targeting the digital activity and the joint venture “will be entitled after 12 months from opening or purchasing a store in a nationwide state, to set up a dedicated site for that state for online sales or to operate an existing online Pot Locker site in that state,” the Fox Group said in a statement.

The term of the agreement is for 10 years, with an extension option headed by Pot Locker, which will control the joint company. The agreement stipulates that Retailers and Pot Locker will jointly invest a total of up to $ 20 million in the joint venture, according to their relative share in the holdings. Fox estimates that the cost of the investment will amount to NIS 35 million.

Comments on the article(0):

Your response has been received and will be published subject to system policies.
Thanks.

For a new response

Your response was not sent due to a communication problem, please try again.

Return to comment


Source link by https://www.bizportal.co.il/capitalmarket/news/article/785536

*The article has been translated based on the content of Source link by https://www.bizportal.co.il/capitalmarket/news/article/785536
. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!

*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.

*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!

These were the details of the news Fox will establish a joint venture with Pot Locker Europe –... for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at news1.news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

PREV Arab finance ministers discuss multilateralism, economic development at G20 meeting in Brazil
NEXT Ministry of Economy and Planning signs MoU with Saudi National Institute of Health