Payless to open stores in Mexico, Indonesia, Malaysia and Singapore
Topeka, Kan. Collective Brands announced that its Payless ShoeSource unit has signed two new franchise deals to bring the Payless retail chain to new international markets beginning next year, including opening Payless stores in Mexico, Indonesia, Malaysia and Singapore.
Payless ShoeSource has signed a multi-year franchise deal with Grupo Axo, a new strategic partner headquartered in Mexico City, to bring the Payless retail chain to Mexico beginning late next year. The two companies said they expect to open 41 stores in the next three years and that they believe the Mexican market can support more than 300 stores in the long term.
The company also signed a multi-year agreement with Map Active that will bring Payless stores to Indonesia, Malaysia and Singapore in a long-term franchise deal that provides potential to exploit the maximum store growth possible. The two companies announced the opening of 20 stores across the three territories in 2011, followed by an aggressive rollout of stores in 2012 and beyond.
"The franchise model for Payless is proving to be a strong strategy for us as it accelerates our ability to place stores in new countries and with minimal capital investment,” said Matt Rubel, chairman, CEO and president of Collective Brands.