KANSAS CITY, Mo. — Payless ShoeSource has opened its first locations in the Middle East as the retailer expands overseas despite a challenging economy at home.
The Topeka, Kan.-based chain said Tuesday its Middle East franchisee opened two stores this weekend in Kuwait City, Kuwait, and Riyadh, Saudi Arabia, to overwhelming consumer demand.
"The opening exceeded any (financial) stretch plan that anyone had," said Matt Rubel, chief executive of Collective Brands Inc., which operates the Payless and Stride Rite chains.
Collective Brands announced in September a partnership with retail franchisee M.H. Alshaya to open stores in United Arab Emirates, Saudi Arabia, Kuwait, Oman, Bahrain, Qatar, Egypt, Jordan and Lebanon.
It is nice to see a locally based company doing well. Considering their market position, they ought to be doing better than most shoe stores at home as well.
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