Mukesh Ambani-led Reliance Retail has entered into a franchise agreement with the US-based footwear retailer Payless ShoeSource. Reliance Retail open exclusive franchisee stores in India for consumers seeking value for money shoewear.
The arrangement is aimed at leveraging Payless' capabilities of creating a unique and delightful store experience through a trend-right product mix that appeals to the budget-conscious shopper.
Reliance Retail will replicate the experiential elements of Payless stores around the world and will offer an entire footwear and fashion offering to the family.
The Topeka-based retail chain has 258 franchised stores located in the Middle East, Asia and Eastern Europe.
"Partnering 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," says Paul Jones, CEO of Payless Holdings.
"It is a complete family store, very vibrant and has great offerings for all. 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. The association underlines our core philosophy of democratising fashion. We are very excited about this venture and look forward to launching these stores in India next year," says G. Sankar, CEO Footwear business, Reliance Retail.
Payless stores have well-known brands such as Airwalk, Dexter, Brash, designer label Christian Siriano for Payless and children's brand Smartfit.