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Payless ShoeSource to enter Russia next year
02 Sep '09
5 min read
"Together, Payless and Alshaya have enjoyed great success under the franchise model opening Payless stores in the Middle East, and we are very excited to now introduce Payless to the people of Russia," said Mohammed Alshaya, executive chairman of M.H. Alshaya Company. "We believe the Payless name and all it represents including great brands, a fun inspiring shopping experience and the latest affordable fashions will do well in Russia -- just as it has in other regions of the world. The Russian people are going to be overwhelmed by Payless and what it has to offer."
This newest international expansion effort follows on the heels of Payless' successful launch into the Middle East earlier this year, with Alshaya as its franchisee partner, with four stores in the region including in Saudi Arabia, United Arab Emirates and Kuwait. In 2008, through a joint venture agreement, Payless also successfully entered Colombia with 30 stores now currently in the country.
Payless and its more than 4,500-store chain has an expanding international presence today in countries and territories including the United States, Canada and in Central America, the Caribbean, South America and the Middle East. Stores in Central America, South America, Trinidad and the Dominican Republic are operated through joint ventures. Stores in Canada, Puerto Rico, the U.S. Virgin Islands, Guam and Saipan, are operated through wholly-owned subsidiaries.
Payless believes that the franchise model will enable it to most effectively reach more international markets with its unique global marketplace position in affordable fashion and it's powerful capabilities to deliver on-trend and targeted seasonal branded products. The international franchise strategy is also a significant move in expanding Payless' diversified real estate strategy that includes a well-balanced mix of mall-based stores with free standing stores and those located in lifestyle and local shopping centers.
This newest international expansion effort follows on the heels of Payless' successful launch into the Middle East earlier this year, with Alshaya as its franchisee partner, with four stores in the region including in Saudi Arabia, United Arab Emirates and Kuwait. In 2008, through a joint venture agreement, Payless also successfully entered Colombia with 30 stores now currently in the country.
Payless and its more than 4,500-store chain has an expanding international presence today in countries and territories including the United States, Canada and in Central America, the Caribbean, South America and the Middle East. Stores in Central America, South America, Trinidad and the Dominican Republic are operated through joint ventures. Stores in Canada, Puerto Rico, the U.S. Virgin Islands, Guam and Saipan, are operated through wholly-owned subsidiaries.
Payless believes that the franchise model will enable it to most effectively reach more international markets with its unique global marketplace position in affordable fashion and it's powerful capabilities to deliver on-trend and targeted seasonal branded products. The international franchise strategy is also a significant move in expanding Payless' diversified real estate strategy that includes a well-balanced mix of mall-based stores with free standing stores and those located in lifestyle and local shopping centers.
Payless ShoeSource
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