Enrico Coveri coming to Israel
After losing a legal battle over the right to use the Versace name brand in Israel, the Tzadik-Pur family has acquired local rights to another Italian fashion monicker, Enrico Coveri. The family says it expects to invest NIS 20 million in the venture in the first year through its Multi Style firm and open a flagship Coveri store at the Azrieli Center in Tel Aviv in March. Over the course of next year, Multi Style says it plans to add nine additions Coveri stores around the country.
Multi Style says Coveri fashions will carry a medium-range price tag in Israel. On an introductory basis, the stores' merchandise will generally run between NIS 300 and NIS 2,000 per item.
Because the brand is not well-known in the country, the local franchisee will likely need considerable brand promotion. The chain was founded in Italy in 1981 by designer Enrico Coveri.