Fox Looking to Buy Chain of Jeans Stores

The Fox fashion chain is negotiating to buy a chain of jeans stores, Haaretz has learned. Talks are being held between Fox and Lee Cooper. Fox finished 2004 with sales of NIS 438 million and has about 140 stores in Israel. It seems that the company is running out of room to expand locally and has started to look overseas. Fox has opened 11 franchises in Singapore and another two in Australia. It has also signed agreements to open in Russia, Thailand and China. Buying another chain would allow the firm to grow in Israel too. The British Lee Cooper has about 23 percent of the jeans market in the country, estimated at some NIS 300 million, and is represented in Israel by Concept. Lee Cooper's spokeswoman has denied the report. Fox refused to comment.