Collective Brands Inc, the owners of Payless discount shoe stores, announced that it plans on opening its first franchised branches in Vietnam, Thailand and Korea this coming year.
In the planning stages are 16 stores throughout the three Asian countries, said LuAnn Via, the head of the Payless division of Collective Brands (PSS.)
“We were very interested in Korea; we think that our brand will resonate very well there,” Via said. “We perform extremely well” in developing countries, she added.
Collective Brands stated in August last year that it was ‘reviewing’ its strategic options to help propel the price of its stock. According to the value of its various separate businesses Collective Brands could be worth as much as $27 per share.
Today Payless has about 4500 stores throughout 34 countries. Its first overseas franchise opened in Kuwait in 2009. Now there are 140 franchised locations with the hope of expanding to 700 locales by 2014. Collective Brands is also the owner of Saucony, Stride Rite, Keds, and Sperry Top-Sider brands.
On February 3rd this year the price of one share of Collective Brands stock fell 1 percent to $16.65 on Wall Street. In 2011 the total value of Collective Brands stock fell by 32 percent.