Rami Levy attacks: “The one who is to blame for the price increases is the state”

“I can not talk about the details of the investigation, but I can say that the investigation of the industry (on suspicion of price coordination – YS) is being conducted as in Russia. In my opinion, they just made a big show against the background of the claims about the cost of living. Do you think we do such nonsense as price coordination? All this will become clear later. “This is what businessman Rami Levy, the controlling owner of the Sycamore Marketing chain, tells Maariv.

He said, “The one who is to blame for the price increases is the state, which is trying to divert criticism in the direction of the retail chains. I will give you an example:” An employee who earns NIS 15,000 gross per month remains in his pocket with NIS 11.5 thousand net. “On the net, he pays another 60% of various and strange taxes such as property taxes, high VAT on food products, water, gasoline and electricity. So how much is left in his pocket? Not much. This is exactly the cost of living. The government is responsible and not the retailers.”

Asked why retailers and importers are not lowering prices despite the collapse of the dollar, he said: “It is true that the dollar has fallen at the moment, but I know of importers who have made hedging deals to the dollar. We hedged the dollar for several months at NIS 3.18. It no longer interests us to go up, because we are protected. “

Levy added: “When the dollar goes down, it is not always possible to pass it on to the consumer. Along with the drop in the dollar, remember that trucking prices went up a lot more. I know of importers who bought toiletries when the dollar was higher, It is not automatic, although it seems so. “

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Rami Levy (Photo: Yonatan Zindel, Flash 90)

Levy emphasizes that the chain he owns will continue to be the cheapest: “The gross profit at Rami Levy Sycamore Marketing is the lowest of all the chains. Some of the profits we passed on to the consumer. The profit has increased since the beginning of the year. all the way”.

On buying control of Israir, he says that this was not a mistake. “Whoever makes such a deal thinks long term. We have plans to develop the company, and we are going to turn it into a tourism group with hotels. The basis will be work with as many vacation packages as possible.”

Rami Levy Sycamore Marketing’s profits have skyrocketed by 33% to NIS 150 million since the beginning of 2021. Revenues in that period amounted to NIS 4.82 billion.
The full interview will be published tomorrow in the current Plus section of “Maariv-SufaShavua”

Source: Maariv.co.il – כלכלה בארץ by www.maariv.co.il.

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