Shapelet models have attracted a lot of attention from researchers in the time series community, due in particular to its good classification performance. However, such models only inform about the presence / absence of local temporal patterns. Structural information about the localization of these patterns is ignored. In addition, end-to-end learning shapelet models tend to generate meaningless shapelets, leading to poorly interpretable models. In this paper, we aim at designing an interpretable shapelet model that takes into account the localization of the shapelets in the time series. Time series are transformed into feature vectors composed of both a distance and a localization information. Then, we design a hierarchical feature selection process using regular-ization. This process can be tuned to select, for each shapelet, either only its distance information or both distance and localization information. It is hence possible for every selected shapelet to analyze whether only the presence or the presence and the localization contributed to the decision process improving interpretability of the decision. Experiments show that this feature selection process has competitive performance compared to state-of-the-art shapelet-based classifiers, while providing better interpretability.