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The Gap and Banana Republic open in Israel

Published on .

TEL AVIV -- U.S. clothing chains The Gap and Banana Republic have opened in Israel as "stores-within-a-store" at the Shekem Gallery department store chain.

The first two outlets opened in The Shekem Gallery flagship store in the center of Tel Aviv. And by March next year, the Gap and Banana Republic are both scheduled to have departments in Shekem Gallery department stores in Jerusalem, Haifa and Rehovot, outside Tel Aviv. The two brands will share advertising with the Shekem's other fashion labels. The Tel Aviv-based Reuveni Fridan agency holds the Shekem's fashion account.

venture
BEIJING -- South Korea's largest food and beverage company is creating a $20m soft drinks joint venture with the Chinese Beijing Changning Group in its bid to be a "world- class company.'' The Cheil Jedang Corp of South Korea will hold a 60% stake in the Beijing CJ Changning Foods Co Ltd., leaving 40% for its Chinese partner.

The joint venture has ambitious targets. Construction of a beverage plant with the capacity to produce 80,000 tons of soft drinks is expected to be completed next year. And sales are predicted to reach $361m by the year 2000, making it the industry's largest factory in Northern China.

"The company aims to meet consumers' increased demand for a wider range of quality soft drinks," says Kyung Sik Sohn, chairman of the Cheil Jedang Group. Products will include pure fruit juices, carbonated drinks and yogurt drinks.

The new company expects a revenue of $18m in the domestic market in 1997 and hopes to increase it to $120m by 2000. Beijing CJ Changning Foods Co Ltd is Cheil Jedang's first joint venture project in China. "The vision of the CJ Group is to become a world-class company for the 21st century and to provide the best products for people's daily lives and their cultural and recreational activities," Sohn says.

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