🠈 Payless ShoeSource 🠊
Payless ShoeSource is a leading provider of discounted shoes. In 2007 Payless acquired Stride Rite. The new corporate entity changed its name to "Collective Brands," headquartered in Topeka, Ks. The two stores together had over 14000 stores and are credited with putting shoes on a full tenth of the kids in the United States.
In 2012, Collective Brands was acquired in a bid by three equity firms: Wolverine World Wide, Blum Capital, and Golden Gate Capital for $1.32 billion dollars.
Stride Rite is a shoe marketer that traces its history to the Green Shoe Manufacturing Company founded in 1919 by Jacob A. Slosberg and Philip Green of in Boston.
The company had a knack for keeping current with trends and often created or acquired brands fitting the current style. The company went public in 1960 and changed its name to its popular brand Stride Rite in 1966. Other brands in the company's portfolio include Keds, Grasshoppers, Robeez, Saucony, Sperry Top-Sider, and Jessica Simpson Kids.
Stride Rite began opening shoe stores in select major markets in 172 and had opened over 300 stores by the time of its merger with Payless.
Payless Shoe Source is a discount shoe store founded by cousins Louis and Shaol Pozez in 1956. The company began trading as a public company with the name Volume Shoe Corporation in 1961 after which they bought the Hill Brothers Shoe Company of Kansas City in 1962.
Volume Shoe Company was acquired by the May Department Store in 1979. It remained a subsidiary of May until it re-emerged as a public company in 2004 just shortly before the mega merger between Federated Department Store and Mays that created the retail behemoth Macy's.
The Payless Corporate Site has information on franchising.
- Wikipedia - Payless ShoeSource (Drawn 3/28/2017)
- Funding Universe - Payless (Drawn 3/28/2017)
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