Payless to open stores in Mexico, Indonesia, Malaysia and Singapore
Topeka, Kan. Collective Brands announced that its Payless ShoeSource unit has signed two new franchise deals to bring the Payless retail chain to new international markets beginning next year, including opening Payless stores in Mexico, Indonesia, Malaysia and Singapore.
Payless ShoeSource has signed a multi-year franchise deal with Grupo Axo, a new strategic partner headquartered in Mexico City, to bring the Payless retail chain to Mexico beginning late next year. The two companies said they expect to open 41 stores in the next three years and that they believe the Mexican market can support more than 300 stores in the long term.
The company also signed a multi-year agreement with Map Active that will bring Payless stores to Indonesia, Malaysia and Singapore in a long-term franchise deal that provides potential to exploit the maximum store growth possible. The two companies announced the opening of 20 stores across the three territories in 2011, followed by an aggressive rollout of stores in 2012 and beyond.
“The franchise model for Payless is proving to be a strong strategy for us as it accelerates our ability to place stores in new countries and with minimal capital investment,” said Matt Rubel, chairman, CEO and president of Collective Brands.
Polo Ralph Lauren opens women’s flagship in Manhattan
New York City Polo Ralph Lauren Corp. opened a four-floor, 22,000-sq.-ft. women’s flagship on Madison Avenue in Manhattan. The luxurious store is located across the street from the company’s Rhinelander Mansion store, which has been converted into Lauren’s men’s flagship.
The flagship, located in a Beaux-Arts building that was built from the ground up, is dedicated to Lauren’s women’s and home collections and also features the designer’s first domestic Watch & Jewelry.
The store is outfitted with luxury materials and details that give the space a residential, Parisian feel. A grand marble staircase with an ornate handrail sweeps up through the four floors.
Report: Wegmans to enter Massachusetts
New York City Wegmans Food Markets plans to open its first Massachusetts store, according to The Boston Globe. The grocer is slated to open a 135,000-sq.-ft. store that will anchor a $100 million shopping and residential complex called Northborough Crossing.
“Over the next five to seven years, we might have half a dozen locations in Massachusetts,” said Ralph Uttaro, VP real estate development for Wegmans, in the report. “We’re looking for high-density areas with high levels of income and education.”
The Northborough store is scheduled to open in fall 2011.