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Signs two franchise agreements for new locations
Collective Brands (Topeka, Kan.) has signed two new franchise agreements to bring its Payless ShoeSource unit to Korea, Thailand and Vietnam. The retailer is working with Emart, a business unit of Shinsegae Group, Seoul, to bring its Payless ShoeSource stores to Korea, and Central Marketing Group, a business unit of Central Group, Bangkok, to open stores in Thailand and Vietnam.
For 2012, Payless and its partners will open six stores in Korea and five stores each to open in Thailand and Vietnam. The expansion plans will bring the total countries that have franchised Payless stores to 20 countries.
"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,” says LuAnn Via, ceo and president of Payless ShoeSource.
Through the franchise arrangements, Payless will provide both franchise partners with seasonal product assortments, as well as expertise in retail operations, merchandising, marketing and brand strategy. Both Emart and Central will provide retail location strategy, construction, logistics, store training and staffing and local marketing execution.
Both firms will utilize Payless' newest store format and will purchase Payless product directly from Payless' seasonal assortment with slight adjustments per the localized footwear needs of the market.
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