Newman Brothers Increase Stake in Israeli Fashion Chain BGood to 34% at 250 Million Shekel Valuation

Israeli businessmen and brothers Even and Ricky Newman have expanded their holdings in the discount fashion chain BGood, acquiring an additional 10% of the company’s shares. This latest investment values BGood at 250 million shekels, more than doubling its worth since the Newmans first bought a 24% stake in 2022 at a 100 million shekel valuation. With this transaction, their total ownership rises to 34%, while the remaining shares are held equally by partners Ofir Ben Avraham and Kobi Rahmani.

BGood operates 51 stores primarily in open-air shopping centers, offering affordable basic clothing for the whole family. The chain plans to open two more branches next week. Even Newman confirmed the deal and attributed the company’s growth to strategic changes, including opening over 20 new stores, shifting to direct imports from factories in the East, and focusing on locations with lower rent outside traditional malls. These moves have enhanced BGood’s competitive pricing and gross profitability.

Newman, an experienced investor in discount retail, previously invested with his brother in Max Stock, a discount goods chain, acquiring a one-third stake for 60 million shekels in 2014 before eventually selling out for 340 million shekels. Kobi Rahmani, BGood’s co-CEO, credited the company’s rising value to consistent work and customer trust, emphasizing plans for continued expansion and value pricing for consumers.