Tuesday, 15 December 2009

Top American footwear chain to open in RP

http://goodnewspilipinas.com/?p=9505

Payless ShoeSource, the United States leading footwear store will open 7 shops in the Philippines next year.

The chain of stores is owned by Kansas based Collective Brands Inc. Chief Executive Officer Matthew Rubel said the expansion in the Philippines marks the next stage of the group’s international growth, which will also expand the number of stores it operates in the Middle East and open in Russia next year.

Shoes are a category on which consumers in emerging markets tend to spend as their incomes increase, and Filipino consumers already have “high footwear consumption,” he said.

“When we look at the consumer in that marketplace, and we look at the competitive set, we don’t believe that anybody is delivering style, price and quality, and so we believe that there’s a unique opportunity for this to be a material business,” Rubel said.
He estimated that the Philippine market might support as many as 80 stores. The shoe retailer is also looking at other emerging countries in Asia, Rubel said.
The US group will be supported in the Philippines by Store Specialists which manages 72 brands and 340 stores in the country, including Gucci Group NV and Zara.
Payless has more than 4,500 stores in North and South America and the Middle East.

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