Hamashbir Deepens Partnership with Kenneth Cole with $5 Million Investment and Global Expansion

Hamashbir Group is strengthening its collaboration with the American brand Kenneth Cole through Kenneth Cole Productions (KC). The parties signed an investment agreement under which KC will invest up to $5 million in Kenneth Cole Design and Development Ltd, a wholly owned subsidiary of Hamashbir 365. KC will invest $3 million in the subsidiary in exchange for 20% of its equity. Additionally, KC will provide Hamashbir with a credit line of up to $2 million, subject to an annual fee. This investment aims to support the global expansion of the Kenneth Cole brand.

KC will also have a Put option allowing it to sell its entire stake back to Hamashbir, which would release the guarantees KC provided for the operation at no cost to the international company. Last year, Hamashbir signed a similar agreement with the Israeli e-commerce company GLOBAL-E, which became a partner in Hamashbir’s Kenneth Cole operations in Europe. GLOBAL-E invested $3 million for a 19% stake and provided a $2 million credit line with an annual fee of 1%. This partnership supports the operation of Kenneth Cole’s online stores across the European Union and the United Kingdom.