FL: Payless ShoeSource to Open Store in Miami, Plans 30+ Throughout U.S.
19 Aug, 2020
Payless ShoeSource, which filed for bankruptcy protection in February 2019 then closed its approximately 2,500 stores in North America and shut down its e-commerce operations, is planning a return to the U.S. retail market. (Payless international stores were not affected by the bankruptcy filing.)
Chain Store Age reports that in January, Payless appointed a new management team and unveiled its strategy to turn around the business and grow again in the U.S. The new team is led by CEO Jared Margolis, who previously served as president of CAA-GBG, the largest licensing agency in the world and a joint venture between Global Brands Group and Creative Artists Agency.
Payless is now making plans to relaunch with a new e-commerce site as well as a new retail prototype, reported Women’s Wear Daily. The store will open in November, in Miami, which is home to the company’s new headquarters. The company intends to open 30 to 45 stores in the region by the end of next year, according to the report, which said that Margolis is signing all leases as percentage rent deals and will not take on spaces with traditional leasing terms.
Payless’ new stores will be designed with social distancing, omnichannel marketing and new technology in mind, the WWD report said. Touchscreen mirrors will allow shoppers to view additional product and order directly to their homes. Payless will also roll out a partnership with Zappar, a program that allows shoppers to measure their shoe size with their phone, to assist with both in-store and online purchasing.
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