The fashion chain
Castro
+ 2.89%
Base:5,231
opening:5,231
High:5,500
low:5,231
change:163,035
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Expands its brand, and is expected to open home clothing stores in the near future. The company, plans to open by the second half of 2021 between 10-20 points of sale, and over the next 5 years to reach a deployment of 50-80 stores. The investment in the launch of the line is expected to amount to NIS 30-20 million, in the coming year. In doing so, the company is expected to compete with veteran chains in the field such as Golf and Fox.
Castro plans to operate on two fronts; One, to integrate the home clothing line into the company’s existing stores, and the other is to open dedicated stores within which the company will offer a variety of home textiles and hospitality products; Also, the home dressing line will also be sold online.
Castro’s expansion is natural, and comes after a trend of recovery. The company recovered from a loss of NIS 31 million in the third quarter of 2019, and reached a net profit of NIS 41 million in the corresponding quarter in 2020.
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