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Payless ShoeSource acquires American Eagle brand

May '06
Payless ShoeSource, the nation's leading footwear specialty retailer, has purchased the American Eagle brand for footwear and accessories from Jimlar Corporation for an undisclosed amount.

The move is part of Payless' business strategy to build a 'house of brands' retail chain offering the latest footwear and accessory styles -- at a great value -- featuring recognizable brand names.

"Payless is focused on democratizing design and fashion in footwear and accessories. Our goal is to inspire fun fashion possibilities for the family. The American Eagle brand acquisition is an important step in achieving this and to our ability to connect with young consumers," said Matt Rubel, CEO and President of Payless ShoeSource.

The Payless 'house of brands' strategy is rooted in a winning combination of on-trend, relevant styles combined with well-known brands that are closely targeted to each discrete consumer segment.

"The youth-oriented American Eagle brand has a rich history and has been available at better department stores for the past two decades. American Eagle expands our brand offering and will bring new customers to Payless, while enhancing our current position with our loyal shoppers," he added.

Through the agreement, Payless acquires Jimlar's worldwide rights to the American Eagle brand for footwear and select accessories categories. Over the years, Jimlar has provided a range of fashion-forward styles featuring the American Eagle brand to department stores and other retail channels both nationwide and in other countries.

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