After several months delay because of the war, Delta Brands has launched its first two Victoria’s Secret lingerie outlets in Israel, in the Ofer Mall in Petah Tikva and the Ofer Grand Canyon in Haifa.
NIS 5.5 million has been invested in the 500 square meter store in the Petah Tikva mall and NIS 4.5 million in the 400 square meter Haifa store. The next two Victoria’s Secret stores will open in the Ice Mall in Eilat and the Ir Yamim mall in Netanya.
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Delta has waited some time for appropriate and good space in the malls and decided while waiting to launch its online store in Israel, which began operating last year. Delta Israel Brands CEO Anat Bogner has said in the past, “We waited for suitable spaces in the malls and then we said, we have here a brand that is super-hot, why not launch it first online?”
The company chose not to hold a large launch or invest in advertising before opening due to the war, among other things following concerns by the international brand. A source in the industry said, “This is a brave step. There were very many chains interested in opening operations in the country before the war that retreated. That an international chain has opened its first store in Israel during the war is a statement.”
Victoria’s Secret was founded in 1977 by Roy Raymond in California to manufacture and distribute lingerie products. In 1982 the chain was sold to US businessman Les Wexner for $1 million the former chairman of L Brands, the parent company of the brand. In 2023, Victoria’s Secret’s revenue totaled $6.1 billion.
Published by Globes, Israel business news – en.globes.co.il – on April 11, 2024.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2024.
