Payless ShoeSource Continues to Expand Its Global Footprint, Celebrates 100th Franchise Store Milestone
TOPEKA, Kan., July 28, 2011 /PRNewswire via COMTEX/ --
Collective Brands' (NYSE: PSS) Payless ShoeSource unit announced today the opening of its 100th franchise store, which is located in Cirebon, Indonesia. The store represents the 7th store in Indonesia to date and the overall rapid international expansion of the Payless store chain over the past two years through its franchise strategy.
"The franchise model has proven to be an effective way to quickly reach more international markets with the Payless brand and all it has to offer -- great fashion, well-recognized brands, product quality and leading customer service all at a great price," said LuAnn Via, chief executive officer and president of Payless ShoeSource. "Payless brings the know-how in footwear specialty retailing and powerful seasonal product collections featuring well-recognized brand names; our franchise partners bring their strong infrastructure and experience within the local markets in which we operate -- now 11 countries in all. Our franchise program has exceeded our expectations, and we are excited about future growth for Payless across the globe."
Payless, on a mission to democratize the latest fashion and ideas in footwear and accessories for all to enjoy, first launched its franchise operation in 2009 with its first-ever franchise store located in Kuwait, which also represented among the first Payless stores in the Eastern Hemisphere. By the end of 2009, eight stores were operating in three countries in the Middle East -- in Kuwait, Saudi Arabia, and the United Arab Emirates.
In 2010 the company continued its rapid franchise expansion with store openings in Bahrain, the Philippines and Russia and also forged multiple new franchise partnerships in new geographies for the continued expansion in 2011 and beyond. So far in 2011, through franchising its stores, Payless has now entered Peru, Turkey, Israel, Indonesia and Lebanon, and has plans to open franchise stores in Egypt, Morocco, Malaysia, Singapore, Jordan and Mexico by the end this year.
Payless anticipates the continued rapid expansion of its franchise store program, which represents an opportunity for approximately 700 stores in existing and new countries by 2014.
Through the franchise arrangements, Payless provides its franchise partners with seasonal product assortments, as well as expertise in retail operations, merchandising, marketing and brand strategy. Payless franchise partners provide retail location strategy, construction, logistics, and store training and staffing. Franchise stores utilize Payless' newest store format, the "Hot Zone" layout, and purchases Payless product directly from Payless' seasonal assortment with slight adjustments per the localized footwear needs of the market. Like the Payless stores in the U.S., franchise stores feature a wide assortment of shoes and accessories for the family including branded products for women, men and children covering a range of wearing occasions.
Payless and its nearly 4,500-store chain has an expanding global presence today in 24 countries and territories including the United States and Canada, where stores are wholly owned, as well as in Central America, the Caribbean, and South America, where the retailer operates stores primarily through joint-venture arrangements.
Franchise Store Locations
Franchise stores are currently operating in the following countries:Kuwait, Saudi Arabia, Bahrain, United Arab Emirates, Lebanon, Peru, the Philippines, Russia, Israel, Indonesia and Turkey.
About Payless and Collective Brands
Payless ShoeSource, Inc., a unit of Collective Brands, Inc., is the largest specialty family footwear retailer in the Western Hemisphere and is dedicated to democratizing fashion and design in footwear and accessories for all to enjoy. Payless offers customers a range of well-recognized brands such as Dexter®, Airwalk®, Champion®, Brash, Above the Rim® and Smart Fit®, as well as designer labels by Christian Siriano, Lela Rose, Isabel Toledo and Silvia Tcherassi. As of the end of 2010, the company operated nearly 4,500 stores throughout the Americas and an online store (www.Payless.com) and also currently has 100 franchised stores located in Asia, Eastern Europe and the Middle East.
Collective Brands, Inc. (NYSE: PSS) is a leader in bringing compelling lifestyle, fashion and performance brands for footwear and related accessories to consumers worldwide. The company operates three strategic units covering a powerful brand portfolio, as well as multiple price points and selling channels including retail, wholesale, ecommerce and licensing. Collective Brands, Inc. includes Payless ShoeSource, focused on democratizing fashion and design in footwear and accessories through its nearly 4,500-store retail chain, with its brands Airwalk®, Dexter®, Champion®, Zoe & Zac(TM), the first-ever affordable green footwear brand, and designer collections by fashion designers Christian Siriano, Lela Rose, Isabel Toledo and Silvia Tcherassi; Collective Brands Performance + Lifestyle Group, focused on lifestyle and performance branded footwear and high-quality children's footwear sold primarily through wholesaling, with its brands including Stride Rite®, Keds®, Sperry Top-Sider® Robeez®, and Saucony®, among others; and Collective Licensing International, the brand development, management and global licensing unit, with such youth lifestyle brands as Airwalk®, Above The Rim®, Vision Street Wear®, STRIKEFORCE(TM), Clinch Gear(TM), Sims®, Lamar® and LTD®, World Snowboarding Championships(TM) and Hind®. Information about, and links for shopping on, each of the Collective Brand's units can be found at www.collectivebrands.com.
This news release contains forward-looking statements which are not historical facts, indicated by words such as "anticipates" as well as similar expressions, and are subject to a number of risks and uncertainties. Actual results may differ materially. Please refer to our SEC filings for more information on risk factors and other factors that could impact forward looking statements.
SOURCE Payless ShoeSource