PAYLESS aims at Latin America
Despite the financial crisis suffered in its country of origin, the United States, during 2019 and 2020, which forced the closure of 2,100 points of sale, PAYLESS SHOESOURCE, the international chain dedicated to the sale of footwear, has drawn up a new expansion strategy for Latin America.
According to statements by its CEO for LATAM, Justo Fuentes, in different journalistic media, the company that will act in the region is not the same as the United States. "Although the headquarters will have a percentage of participation, the company is different", he said.
PAYLESS is distinguished by focusing its footwear offer on the family nucleus, with accessible prices, where casual and sports products prevail.
The executive remarked that the Covid-19 crisis caused innumerable issues to society, and in particular to the footwear market, "but as the health problem decreases, consumption tends to normalize".
"We currently have 430 stores in Latin America and the goal is to add 100 more by 2024. In 2021 we are considering 28 openings, including 7 that will be added to the 75 we have in Colombia."
"We have plans to enter new markets such as Puerto Rico and Guyana, as well as Peru and Ecuador, to probably reach Bolivia and Chile in 2022."
The CEO of PAYLESS said that they are currently buying footwear from 17 factories in Colombia -in Bogotá and Bucaramanga- and exploring the possibilities of sourcing from factories in Mexico, Brazil and Ecuador.
“The question of supply is fundamental in our business, for this we have to do a very efficient work with factories in Asia, from where we bring sports shoes made of synthetic materials, while from Latin America we supply ourselves with leather products in casual style. The idea is to have an offer 50% of Asian origin and 50% Latin American”.
Finally, the manager reported that his company is committed to omnichannel, to integrate virtual shopping platforms with physical stores. "We are making a significant investment in technology and logistics to respond to this trend", he said.
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