Topeka-based Collective Brands Inc. is planning to take its Stride Rite
children’s shoe brand to the world’s most populous market, opening stores in mainland China next year, its chief executive officer said.
The company is teaming up with Li & Fung Retailing and will also open stores in Hong Kong, Malaysia and Singapore starting in December, Matthew Rubel said yesterday in a telephone interview. Li & Fung will develop stores, e-commerce and wholesale business for Collective in Asia. Closely held Li & Fung Retailing isn’t related to the publicly traded company of similar name.
Collective, which operates the Payless ShoeSource chain, is pegging growth on international expansion, opening stores in Russia and the Philippines this year and expanding in the Middle East. The retailer is entering China with a “prestige†brand to meet demand from a growing middle class and because lower- priced goods are made and widely available there, Rubel said.