US footwear specialty retailer Payless ShoeSource has purchased the American Eagle brand for footwear and accessories from Jimlar Corporation for an undisclosed amount. This move is part of Payless' business strategy to build a "house of brands" retail chain.

Through the agreement, Payless acquires Jimlar's world-wide rights to the American Eagle brand for footwear and select accessories categories.

Jimlar Corporation is one of America's oldest footwear import companies. It is the footwear licensee of Coach and Calvin Klein, and it owns brands, including Frye, Mountrek and R.J.Colt.