CASTRO MODEL LTD
Previous company name
Name change date
Castro Model Ltd. is Israel’s leading fashion chain. Headquartered in Bat Yam, the company is an international fashion retail chain operator.
The company designs and produces fashion items and accessories for young men and women, and markets its products via a chain of stores bearing the “Castro” brand name. Castro’s core business activities focus on designing women’s and men’s fashions, and the retail marketing of its products. In addition to its activities in Israel, Castro also exports its products abroad.
The company was founded in 1974 by Aaron Castro. In 1985, Castro opened its first retail store in Tel-Aviv’s primary shopping street, Dizzengof. Following it, Aaron Castro decided to focus on the local market and on retail as a core future business. Castro stores opened at a rapid pace, first on Tel-Aviv’s primary shopping streets, then around the country in shopping malls, which were fast gaining popularity.
Castro made its first steps in the international market in 2003, opening Castro brand stores abroad. At the end of 2003, the first contract was signed with the German company “OTTO” to open a chain of stores in Germany, and today there are three Castro stores in Germany: Kцln, Oberhauzen and Mьnster. Additional stores were opened during 2005 in Russia, Latvia, Ukraine, Switzerland, Romania and Thailand. By the end of 2005, 14 stores have been opened in these markets.
Castro Model Ltd. is a publicly traded company (since 1992) listed on the Tel-Aviv Stock Exchange. It is controlled by the Castro and Rotter families, who jointly hold approximately 64% of the company’s shares. The company operates 86 shops, 64 of which are owned by the company, while the rest are operated by franchisees.
The Company and its subsidiaries are engaged in two principal operating segments – the
retail sale of the fashion products designed and manufactured by the Company through
subcontractors in stores operated by fully-controlled subsidiaries of the Company, and
the wholesale of such fashion products to franchisers in Israel and overseas.
Description and history
The Company and its subsidiaries are engaged in retail and wholesale sales of the own designed fashion products.
1973 – Foundation of the company
1985 – Commenced trading as a women’s fashion retailer in Israel.
1992 – Initial Public Offering on the Tel Aviv Stock Exchange.
2000 – Launched menswear range under brand Castro Men.
2005 – Launch of a Joint Venture under the name ‘DIVA’ to sell fashion accessories.
2006 – Launch of Castro Shoes and Bags range.
2008 – Decided to end cooperation with HEINE and repurchased it’s stake in Castro Germany
2009 – Cooperation termination agreement and repurchase greement signed.
2009 – Project with Switzerland concessionaire, the company part is 75%, invest 3.8 million NIS.
2009 – Real estate purchase in Israel for 7.2 million NIS.
Founded by Aaron Castro
Fashion retail chain operator
CASTRO UK LIMITED
KESSELMAN & KESSELMAN
US SIC Code
31, Ort Israel St
City province or state postal code
59590, BAT YAM
Phone: +972 03 5554555
Fax: +972 03 5554553
Country address: ISRAEL
Website url: www.castro.co.il