Reliance Retail Limited (RRL) has inked an exclusive pan-India franchise agreement with US-based shoe retailer Payless ShoeSource. As per the arrangement, Reliance Retail will be the exclusive franchisee of Payless ShoeSource in India to establish its retail chain in the country.
Commenting on the partnership, Paul Jones, CEO, Payless Holdings, said: “A cornerstone of the Payless strategy is to expand into new markets and become the brand that resonates with consumers around the globe, and be the first choice for budget-conscious consumers who shop for shoes and accessories. The partnership with Reliance will further our vision of being the ‘go-to’ shoe store that shoppers anywhere in the world can count on to be there for them and for their families, helping them look good every step of the way.”
G. Sankar, CEO, Footwear Business, Reliance Retail, stated: “Payless is an exciting addition to Reliance’s retail portfolio offering fashionable footwear at affordable prices for the Indian consumers. Underlining our core philosophy of democratising fashion, we believe this association has the potential to storm the ladies and kids footwear market in India which has largely been unorganised and fragmented to date. We are very excited about this venture and look forward to launching these stores in India next year.”
According to the company officials, Reliance will replicate the experiential elements of Payless stores around the world that provide an entire footwear and fashion offering to the family. Catering to the budget-conscious consumers, the stores will offer shoes and accessories including wedges, flats and canvas sneakers, fashionable sandals, handbags, jewellery, and hair items at value prices.
Founded in 1956 in Topeka, Kan, Payless ShoeSource claims to be the largest specialty family footwear retailer in the Western Hemisphere, having over 4,400 stores in over 30 countries. With retail portfolio of brands such as Airwalk, Dexter, Brash, designer label Christian Siriano for Payless and children’s brand Smartfit, Payless stores offers hard-to-find sizing for women and the unique right-siZing service for children.
Operating since 2006, Reliance Retail, India’s largest retailer is a subsidiary of Reliance Industries Limited. It is a multi-format retailer operating stores across FMCG, food, electronics and consumer durables, apparel, footwear, jewellery, lifestyle, and home improvement categories. It presently has more than 1,550 stores across 136 cities with nearly 10 million sq.ft. of retail space.