Middle East deal for Collective Brands
09/09/2008
US footwear company Collective Brands has signed an agreement with Kuwait-based retail group M.H. Alshaya Co as part of its plans for international expansion into the Middle East region.
The two companies said they expect to start opening new stores under the Payless ShoeSource banner in 2009 across the region including Saudi Arabia, Kuwait, United Arab Emirates, Bahrain, Qatar, Oman, Egypt, Jordan and Lebanon.
According to Matthew Rubel, chief executive officer of Collective Brands, Inc, there is “a strong fit with the
shoppers of this region and the Payless brand promise”. He said: “We are thrilled to have such a tremendous franchisee in Alshaya, with its significant retail expertise, infrastructure and deep knowledge of the region. We look forward to bringing shoppers great style, quality and brand names—all at a great price.”
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