Real estate company looking to bring Wal-Mart to Israel
Minrav is not looking to hold a franchise. Rather, it wants to build stores that would meet Wal-Mart's needs and then lease or sell them outright to the company.
Real estate company Minrav Holdings wants to bring Wal-Mart to Israel, and is conducting initial discussions with the American retail giant, TheMarker has learned.
Minrav is not looking to hold a franchise, though. Rather, it wants to build stores that would meet Wal-Mart's needs and then lease or sell them outright to the company.
Minrav,which is controlled by Abraham Kuznitsky, approached Wal-Mart several months ago about entering the Israeli market. The Israeli firm has been seeking out appropriate sites to build a branch of the discount department store, and is considering both land it already owns and land owned by other parties.
Wal-Mart representatives have not yet visited Israel to evaluate the offer.
Branches of the American retail chain - the world's largest - can reach as large as 20,000 square meters in size. They typically hold a vast range of products, from food to underwear to electronics and machinery.
Minrav declined to comment, while Wal-Mart stated "We haven't published any announcements, and we don't respond to rumors."