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ISRAEL-H&M Hennes & Mauritz AB is diving into the Middle East, entering into a franchise agreement with Match Retail Ltd. for multiple stores in Israel, the first of which is set to open in 2010.

“There has been a great interest in H&M from the Israeli market for quite some time and we believe that our business concept will suit the Israeli market well,” says Rolf Eriksen, CEO of H&M. “Through this cooperation we will gain access to our franchise partner’s solid franchise experience and business network on the Israeli market.”

H&M is a global retailer established and based in Sweden. The company has close to 1,700 stores throughout 33 markets. There is no word as to how many stores will be opened in Israel, nor of their size. H&M did not respond to GlobeSt.com inquiries by deadline.

Match Retail Ltd. is a privately owned company founded by the Horesh family for the sole purpose of dealing with H&M’s Israeli expansion. The Horesh family operates Union Motor and Lex Motors, the exclusive distributors for Toyota and Lexus in Israel, among other businesses.

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