Payless ShoeSource to open first Colombian stores
Payless ShoeSource is to open its first ten stores in Colombia with a new joint venture partner led by Colombian businessman Samuel Azout. The stores are expected to open in the summer and autumn of next year and details of the alliance were not disclosed. Payless believes it could support at least 100 stores nationwide in the long-term.
Chief executive officer and president, Matt Rubel, said: "Through our feasibility studies, Colombia arose as a strong fit for the next step in Payless' international expansion. It's a vibrant country with a large, growing population, expanding spending power, and a strong appetite for on-trend fashion at a great price.”
Payless said it believes Colombia could, in the long term, support at least 100 stores nationwide.
