Payless has hit a retail milestone.
The unit of Collective Brands debuted a store in Cirebon, Indonesia, this week, marking its 100th franchise store and seventh shop in the country.
With franchises now in 11 nations, CEO and president LuAnn Via said the model is an effective way to help grow Payless internationally. “Our franchise program has exceeded our expectations, and we are excited about future growth for Payless around the globe,” she said through a written statement.
The company is planning to further expand its franchise program into Egypt, Morocco, Malaysia, Singapore, Jordan and Mexico by the end of this year and have 700 additional stores by 2014. Overall, Payless has a retail chain of nearly 4,500 locations, which are wholly owned or operated through joint-venture arrangements.