Footwear retailer Payless is to open between 300 to 500 free standing stores across North America over the next five years as part of its omnichannel comeback strategy for the region.
Having dropped ‘Shoesource’ from its brand name, Payless has launched a new e-commerce platform and outlined plans for new brick-and-mortar retail concept stores. The first of these new locations willl launch in Miami, the new home and headquarters for the brand.
The new store locations will be in addition to the brand’s existing 700 international stores – 298 franchise and 412 Latin and Central America locations.
“We are fully aware that we’re relaunching in a time when many have lost their jobs, finances are tight, and parents nationwide are adjusting to working from home, facilitating at-home schooling for their children, all while serving the most important role as parent,” CEO Jared Margolis says.
“We saw an opportunity for the brand to relaunch into the US market, providing our community with the affordable, value driven products they’ve always searched for, now across multiple categories, at a time when value couldn’t be more critical.”
Payless filed for Chapter 11 bankruptcy protection in February 2019 for the second time in less than two years, and has since closed all of its 2,587 stores across the US and Canada.
It emerged from the process in January with a new executive management team, a pledge to strengthen relationships with vendors and suppliers, and a goal to return to the US.