Payless ShoeSource, owned by US based Collective Brands Inc., plans to invest in Russia by expanding operations in the Russian market in the beginning of 2010 according to the Wall Street Journal.
While the dollar figure of the Russian investment was not disclosed, Collective Brands Inc. plans to partner with franchise partner M.H. Alshaya to built 150 stores with an option to buy.
The investment in Russian adds to the more than 4,500 stores Collective Brands Inc. already has in regions such as the Middle East, South America, the Caribbean and the North America.
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