Ex-High-Tech Exec Burns Cash to Fight Israel's Supermarket Monopolies
Translated & summarized from TheMarker by baba
Former high-tech executive Kesem Li founded the social supermarket 'HaChishuk' to fight high prices and intermediary markups in Israel, admitting he is currently losing money on the venture. The store avoids major brands and sales, aiming to serve a diverse customer base from Tel Aviv to remote areas. Li prefers stocking lesser-known brands over those from monopolies, though he does carry some due to customer demand.
The story in 5 lines · by baba
- Kesem Li founded 'HaChishuk' supermarket to combat high living costs and intermediary prices.
- Li admits to "burning money" as he works towards profitability.
- The supermarket avoids major brands like Strauss and Osem and minimizes advertising.
- HaChishuk aims to serve a broad customer base, from high-tech workers to students.
- Li prefers lesser-known brands over those from monopolies.
Kesem Li, a former high-tech professional, has launched a social supermarket called 'HaChishuk' (The Hook) with the aim of combating the high cost of living and intermediary pricing in Israel. He admits to having "burned money and am still burning it" in the process. HaChishuk operates without major brands like Strauss and Osem, avoids sales promotions, and relies on minimal advertising. The venture seeks to offer a wide range of customers, from high-tech workers in Tel Aviv to struggling students and residents of remote peripheries, more affordable options.
During a photoshoot at the crowded HaChishuk warehouse, Li declined to be photographed with products from a monopoly brand, stating a preference for lesser-known, less powerful, and cheaper brands. However, he does stock some monopoly products at customer demand. Li warmly greeted a driver from 'HaNamal,' a mid-level import and packaging company, and asked the photographer to capture the moment, highlighting his preference for supporting smaller suppliers.