Payless ShoeSource, Inc., and H.H. Brown Shoe Company, Inc. announced today that they have signed a multi-year agreement making Payless ShoeSource the exclusive retailer for the Dexter brand of footwear and accessories in the United States and the rest of the Western Hemisphere. H.H. Brown will continue to design, develop and sell Dexter performance bowling and golf shoes, as well as the exclusive hand-sewn Dexter 1957 Collection hand-crafted in Maine.
Payless will align the Dexter brand with its new fashion direction and House of Brands strategy, while working with H.H. Brown to leverage the rich 50-year heritage and strong equity of the brand. Payless said it will launch the new Dexter line first with a men's collection in select Payless stores for the 2007 holiday season followed by full men's and women's collections launched in all stores in spring 2008.
"We are thrilled to add Dexter to our expanding portfolio of well-known brands including Airwalk®, American Eagle(TM), Tailwind®, Champion®, Spalding® and Dunkman(TM) now offered at Payless stores," said Matt Rubel, chief executive officer and president, Payless ShoeSource. "We're on a mission to democratize fashion and design in the footwear and accessory categories to bring shoppers great brands and the latest styles at a great price. Dexter, with its long-standing image of quality, innovation and style, will give Payless a brand platform that speaks to a new generation with the energy, spirit and optimism of American life, style and design."
Payless will utilize its footwear design team in New York City to design and develop the new Dexter collections featuring original designs inspired by the latest trends. The company said it expects the new Dexter collections to include casual, dress, boots, and fashion athletic footwear styles, as well as accessories.
"We are excited to team up with Payless to expand the reach and appeal of the Dexter lifestyle brand through Payless' significant store chain," said Jim Issler, President, CEO, H.H. Brown. "We see a strong fit between Dexter and Payless -- each has tremendous brand awareness and a strong reputation. We are proud that Dexter is a key brand in the fashion democracy led by Payless, and that Payless will become a keystone in Dexter's global branding initiative."
About Payless ShoeSource
Payless ShoeSource, Inc., the largest specialty family footwear retailer in the Western Hemisphere, is dedicated to democratizing fashion and design in footwear and accessories and inspiring fun, fashion possibilities for the family at a great value. As of the end of the first quarter 2007, the company operated a total of 4,564 stores. In addition, customers can buy shoes over the Internet through Payless.com® at http://www.payless.com.
About H.H. Brown
H.H. Brown is a major supplier of women's and men's comfort casual shoes, rugged outdoor footwear and premier work shoes and boots. Founded in 1883, H.H. Brown was acquired in 1991 by Berkshire Hathaway Inc. (BRK-A), and is now a wholly owned subsidiary of the holding company which is engaged in a number of diverse business activities. After more than a century of growth and diversification H.H. Brown continues to innovate, patent, manufacture and distribute footwear and accessories worldwide. http://www.hhbrown.com
Source: Payless ShoeSource, Inc.
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Dexter Becomes Key Lifestyle Brand in Payless House of Brands Offering Beginning Holiday 2007
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