It may be exciting lingerie but the odds are good it will soon be shoes sold through
Jim Persinger, director of international development for Collective Brands, spoke to The Topeka Rotary Club on September 18, on the topic of “Growing Payless in the
Persinger said expansion into
Collective brands will provide the products, the designs, store models as well as training and audit services. The franchisees will provide the facility, hire staff and sell shoes. There are giant malls in the oil-rich kingdoms, including those with artificial mountains with ski slopes.
“When it’s 117 degrees outside you want to go inside…with the wealth now moving through these economies they are very focused on improving educational opportunities, living conditions and overall lifestyle improvements…this means retail opportunities and that means fashion.
“Some of these people are shopping three or four times a week in these retail centers. Where 15 years ago 100% of income went to food, now there is a lot of discretionary income to be spent on bags, jewelry and shoes,” Persinger said.
Throughout the Middle East 75% of the population is under the age of 35 and in some countries, including Saudi Arabia, 50% is under the age of 18. This young population – if not actually westernizing – is at least heavily exposed to western values and media and is aggressively adopting western fashions.
Collective Brands includes Payless Shoe Source, Collective Licensing and Stride-Rite as umbrella subsidiaries. Their specific brands include many well-known and popular names such as Champion®, Dexter®, Disney®, Keds®, Sperry Top-Sider®, Tommy Hilfiger® footwear, Saucony®, and many, many others.
Persinger was introduced by his friend and co-worker, Downtown Rotarian Curtis Sneden.
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