Extra Retail acquires Aphrodite

by time news

Extra Retail acquires the Aphrodite lingerie chain. Extra Retail is the private retail group of Blue Square Oak, controlled by Moti Ben Moshe and includes the brands Naaman, Vardinon, Home Style and Zucker (for the professional market).

A year ago the group acquired the Bonita de Mas chain, and now it is expanding its lingerie business. The acquisition of Aphrodite includes the chain’s 50 branches, wholesale operations, trade site and inventory. The group reports that its sales turnover is NIS 700 million per year, with it estimated that after the acquisition of Aphrodite, the field of lingerie will roll around NIS 170-200 million per year.

Dudi Cohen, CEO of the Extra Retail Group, noted that Bonita de Mas and Aphrodite will operate as two independent chains, with Bonita de Mas operating as an exclusive brand while Aphrodite will continue to offer international brands as well.

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