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Payless ShoeSource is making the move to the Philippines.
The company announced an agreement with franchise partner Stores Specialists Inc. to open five stores by mid-2010. Stores Specialists opened franchise locations for brands such as Zara and Debenhams, Gap, Marc Jacobs and Banana Republic in 2008.
"Payless brings the know-how in footwear specialty retailing, and our franchise partners, like SSI, bring their strong infrastructure and experience in the local region. Filipino people love to shop and have a strong appetite for American brands, fashion and footwear and accessories,” LuAnn Via, CEO and president of Payless ShoeSource, said in a statement. “Together with SSI, we are truly excited to bring the Payless brand to the Philippines and to affordably serve the footwear and accessory needs of families in the country."
Earlier this year, Payless opened two stores in the Middle East. The retail chain said it also plans to bow two stores in Russia by the beginning of 2010 with M.H. Alshaya Company.