Payless ShoeSource Continues Global Expansion and Announces Franchise Deals for Stores in New Markets: Korea, Thailand and Vietnam

Stores to Open This Year

TOPEKA, Kan., Feb. 6, 2012  /PRNewswire/ — Collective Brands’ (NYSE: PSS) Payless ShoeSource unit announced today that it has signed two new franchise agreements with partners Emart, a business unit of Shinsegae Group, Seoul, for stores in Korea, and Central Marketing Group, a business unit of Central Group, Bangkok, for stores in Thailand and Vietnam, bringing the total countries which will have franchised Payless stores to 20 countries.
Payless and its partners said that in 2012 they expect six store openings in Korea, as well as five stores each to open in Thailand andVietnam.
“The franchise model has proven to be a profitable and 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, a sophisticated sourcing and supply chain system and powerful seasonal product collections.  Our franchise partners like Emart and Central Marketing Group bring their strong infrastructure and experience within the local market.  Together with these new franchise partners we are truly excited to bring the Payless brand to these three countries and their nearly 200 million consumers.”