Collective Brands Inc. said on Tuesday it planned to expand Payless ShoeSource into the Russian market in 2010 along with franchise partner M.H. Alshaya.
Collective, which is the holding company for Payless ShoeSource and Stride Rite, plans to open at least 90 stores in about five years, of which 5 will be opened by late 2010, the company said in a statement.
Last September, The Topeka, Kansas-based company had announced its first franchisee deal, expanding Payless ShoeSource into the Middle East with the same franchise partner.
Kuwait’s Alshaya develops and operates stores for retailers and restaurants like Starbucks Corp, H&M, Foot Locker Inc and Dean & Deluca, among others.