Topeka, Kan. -- Collective Brands, parent to Payless ShoeSource, announced Thursday the opening of its 100th franchise store, which is located in Cirebon, Indonesia.
The store represents the seventh store in Indonesia to date and the overall rapid international expansion of the Payless store chain over the past two years through its franchise strategy.
"The franchise model has proven to be an effective way to quickly reach more international markets with the Payless brand,” said LuAnn Via, CEO and president of Payless ShoeSource.
Payless launched its franchise operation in 2009 with a Kuwait store. By the end of 2009, eight stores were operating in three countries in the Middle East -- in Kuwait, Saudi Arabia, and the United Arab Emirates.
Payless said it anticipates the continued rapid expansion of its franchise store program, which represents an opportunity for approximately 700 stores in existing and new countries by 2014.