Aryeh Baum, 47 and Avraham Moshe Margulies 45, owners of the successful Osher Ad chain in Israel, never imagined when they began their ventures nearly two decades ago that they would one day be launching a new shopping concept for kosher in Brooklyn.
Kosher Today has learned that the two are set to open a new 70,000 square foot store in about two weeks on 60th Street and 13th Avenue, the site of the now defunct Pathmark.
The two also recruited Ari Weiss, the owner of the 24-hour Goldberg’s Kosher Supermarket on 18th Avenue as their U.S. partner.
Although the store will be huge and spacious, it will target the price conscious and the bulk buyers, especially the many large families in the area and beyond.
Industry sources told Kosher Today that the store, to be called “Bingo” has already negotiated mega deals with kosher manufacturers, including several who agreed to private label for Bingo.
The store is set to have a Costco look (without the membership), rather than the appearance of the numerous high-end kosher independent stores that currently dot many Orthodox neighborhoods such as Breadberry which is only several blocks away.
It has been almost two decades since Mr. Baum sold Mr. Margulies on the idea of selling discounted bread and milk early mornings on the streets of Bnei Brak as a way to sell the community these basic staples at discount prices.
From the bread and milk came Glatt Market, which became Zol Poh, then Elef, which they managed to partner with the Shufersal chain. Eventually Shufersal’s Fisher and Bronfman bought the successful chain for $35 million.
But after taking a respite for a year, the two former yeshiva students were on the move again, this time launching Osher Ad, which while offering a limited selection was nevertheless extremely discounted.
To show their affinity with the budget conscious consumer, they even posted signs “Don’t Buy More than You Need!”
According to Bloomberg, the initial investment in Bingo was reported to be $9 million, with the annual revenues projected to reach $100 million, a figure several industry experts said was “high” since they would have to do an average of $2 million a week in sales.
Osher Ad, which has 15 locations, is Israel’s fourth largest supermarket chain, according to Bloomberg.
Kosher industry sources say that while Boro Park will be the initial Bingo store, plans are in the works to expand the new concept to other kosher neighborhoods.
This place is gonna put a lot of stores on 13th ave out of business. Mainly, KRM and Moisha’s. Gourmet Glatt and Breadberry and Pomegranate not so since they to a high end clientele.
Made alyiah 3 years ago from Boro Park to Ramat Beit Shemesh,
In Israel there is No service in supermarkets No packing the bags No delivery service like in NY. Miss the service!
Wondering if Bingo is gonna make deliveries because Asher Ad doesn’t
This will never work .
in the past Israel concepts never works in America
We have seen this in the past people bringing ideas from a different country not always works .
this is far from Cosco
Costco works on a very small markup
Costco makes their money by membership
If it’s like osher ad it’ll be amazing. That store has everything. We spent the summer in israel did our weekly shopping there. It’s exactly like Costco but all Jewish
This sounds amazing! After just finishing yom tov you really see how much there is a need for bulk lower priced kosher shopping. I am really looking forward to this! Thank you for letting us know…. whens the grand opening? !?!
i live a block away and i heard about but i never thought it would actualy happen! and to # 4 there is alot of parking .they should also make jewish stores downstairs from there because now its just empty
There is plenty of parking there. There is indoor and outdoor parking. Parking is a non issue.
You need a huge parking lot for those huge trolleys of bulk purchases! You can’t block the street while loading up your car. This looks like a traffic nightmare like the Kollel store!
There is a parking lot there
So far I heard there will be plenty parking
costco makes their profit only from their members fees.
Will they take food stamps?
The prices could never be the same as Costco at the end of the day this guy is still buying from the same distributors who sells all the other local kosher stores so how Low can the price really Get.
Costco is an industry leader in fair wages and employee benefits and satisfaction. I hope this enterprise will mirror that
Have you ever seen osher ad in israel? That store is a much bigger feat in a place like Israel – no other big supermarkets – compared to costco, maybe slightly better run operation although there are many very big supermarkets already here in the us long before costco.
If i would trust anyone to make a kosher costco it would be the founders of osher ad in israel.
Of course, #1 _must_ be right. How could anyone possibly think that the “owners of the successful Osher Ad chain in Israel” have any concept or understanding of the business they’re getting into? Why, of course it can only be some random Internet troll, like #1, who really knows.
Please have an online store or better yet an app. If you can beat amazon’s subscribe and save for diapers and other necessities I will happily shop there.
Ha! Will their return policy be like? That’s all that counts. Otherwise I’m still shopping at the real costco.
bring one to CH
At least they know how to take care of their people. We need the same thing in ch. And if you thought empire kosher is like kolel prices IT’S NOT!!! These guys got it right. Especially the middle class with no benefits or any frum household can use bulk instead of fancy stores like breadberry etc. We need all types for all people.
Parking is a must.
Anything good to keep prices down, for the masses is great!
They will find out how complex Costco operations really is