After a long presence in Indonesia, Singapore, Philippines and Malaysia footwear retailer Payless ShoeSource is poised to expand its Asia presence with new stores planned for Thailand, Korea and Vietnam through joint ventures.
Collective Brands-owned Payless ShoeSource has signed a franchise agreement with partners Central Marketing Group of Thailand and Emart of Korea. This year, Emart, a subsidiary of Seoul-based Shinsegae Group, will open six Payless ShoeSource stores in Korea while Central Marketing Group, a subsidiary of Bangkok-based Central Group, will open five stores in Thailand and another five in Vietnam.
“The franchise model has proven a profitable and effective way to quickly reach more international markets with the Payless brand and all it has to offer – great fashion, well-recognised brands, product quality and leading customer service all at a great price,” said LuAnn Via, CEO and president of Payless ShoeSource.
“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.”
The franchise agreements leave Central and Emart responsible for providing location strategy, construction, logistics, store staffing and training; and local store operations while Payless provides seasonal product assortments and expertise in retail operations, marketing, merchandising and brand strategy.
With more than more than 50 years distributing and marketing international brands in Thailand and Vietnam, Central Marketing Group manages more than 120 brands in six different product categories including fashion and sports apparel, cosmetics, branded watches, electronics and home appliances, IT and stationery and travel goods.
“We are excited to partner with Payless to bring its store chain to consumers in Thailand and Vietnam. We know our local shoppers will discover a great specialty shoe retailer in Payless and will be thrilled by what they find in the stores,” said Vachiranunt Suphakarn, senior VP, business development for Central Marketing Group.
With its retail discounting principle ‘Every Day Low Price’, Emart is well aligned with Payless ShoeSource which is also renowned for its discount footwear.
“We see strong alignment with our retail principles and Payless’ model and are thrilled to partner with Payless to bring its store chain to shoppers in Korea,” said Joo Hyung Park, EVP, corporate strategy and operation of Emart.
Currently, Payless ShoeSource has 140 franchised stores in 17 countries worldwide.
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