Top American footwear
store, Payless ShoeSource is set to open seven shops in the Philippines
next year.
The new investor in the
country will not only bring quality products but also an opportunity for
Filipinos.
“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,” said chief executive officer Mathew Rubel of Collective Brands
Inc., owner of Payless ShoeSource.
Rubel added that one of
the reasons that they chose Philippines
is the Filipinos “high footwear consumption.”
“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.
Payless ShoeSource will
be supported by its local partner Store Specialist which manage 72 brands and
340 stores in the country including famous brands like Gucci group, NV and
Zara.
Rubel continued that the
Philippine market might support as many as 80 stores. Aside from the Philippines the shoe store is also looking
forward to expand in other emerging countries in Asia.
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