“Collective Brands to Open Stride Rite Kids Shoe Stores in China - BusinessWeek” plus 1 more |
| Collective Brands to Open Stride Rite Kids Shoe Stores in China - BusinessWeek Posted: 16 Nov 2010 03:54 AM PST November 16, 2010, 4:16 PM EST By Lauren Coleman-Lochner (Updates share price in eighth paragraph.) Nov. 16 (Bloomberg) -- Collective Brands Inc. is planning to take its Stride Rite children's shoe brand to the world's most populous market, opening stores in mainland China next year, its chief executive officer said. The company, based in Topeka, Kansas, is teaming up with Li & Fung Retailing and will also open stores in Hong Kong, Malaysia and Singapore starting in December, Matthew Rubel said yesterday in a telephone interview. Li & Fung will develop stores, e-commerce and wholesale business for Collective in Asia. Closely held Li & Fung Retailing isn't related to the publicly traded company of similar name. Collective, which operates the Payless ShoeSource chain, is pegging growth on international expansion, opening stores in Russia and the Philippines this year and expanding in the Middle East. The retailer is entering China with a "prestige" brand to meet demand from a growing middle class and because lower- priced goods are made and widely available there, Rubel said. "They have the one-child policy," he said. "Think about how many adults there are to spend on that one child." Rubel declined to say how many stores are planned. Li & Fung Retailing, which will run them, will be "aggressive" about identifying potential sites, he said. International sales accounted for 13 percent of Collective's revenue last year, according to data compiled by Bloomberg. The company expects that to grow to more than 20 percent by 2013, a spokeswoman said. Collective began international franchising of Payless stores about 18 months ago and predicts that it will have about 700 locations within five years, including at least 300 in Indonesia, where it announced an agreement with a unit of publicly held retailer PT Mitra Adiperkasa last month. Collective Brands rose 23 cents, or 1.5 percent, to $15.76 at 4:03 p.m. in New York Stock Exchange composite trading. Its brands include Saucony and Keds. --Editors: Margot Slade, Romaine Bostick To contact the reporter on this story: Lauren Coleman-Lochner in New York at llochner@bloomberg.net To contact the editor responsible for this story: Robin Ajello at rajello@bloomberg.net This entry passed through the Full-Text RSS service — if this is your content and you're reading it on someone else's site, please read our FAQ page at fivefilters.org/content-only/faq.php |
| Posted: 23 Nov 2010 11:02 AM PST  Frank Vascellaro If there's one thing Frank Vascellaro knows how to do, it's fill a big pair of shoes. When he takes over tonight for the newly retired Don Shelby — who's been the face of WCCO-TV's 10 p.m. newscast for the past 25 years, Vascellaro's probably not going to seem very nervous. After all, he's done it before. 'I'm very fortunate that I've already run this play,' said Vascellaro, 48, last week. 'I can't tell you how much that's improved my situation and outlook on everything. I've already replaced somebody who was supposedly irreplaceable and everything worked out great, so I'm not terribly stressed right now.' In 2003, when beloved anchorman Paul Magers left KARE-TV for a job in sunny California, it was Vascellaro (KARE's morning anchor at the time) who was chosen to replace him. Many folks — both viewers and insiders — wondered if Vascellaro could keep KARE at the top of the ratings heap after Magers left. The answer was: He could. After a dispute with KARE over "pay and principle," Vascellaro left in 2005 and took a job at WCCO the following year, joining his wife, Amelia Santaniello, on the anchor desk. "The ease and comfort level is great," says Vascellaro. "And the trust level — you can't beat it because we're married. The other upside is that if you have a fight, you have to get it resolved before 5 p.m. It's forced conflict resolution." Vascellaro notes that Shelby and the station have been supportive of his transition into the 10 p.m. anchor spot. But there are some people who aren't excited about his new job — his kids. Sam, 10, and twins Joe and Francesca, 8, will be seeing less of their dad now that he's working the same hours as their mom, Santaniello. While he says they get to see a lot of the kids in the morning because they have a late school start, the adjustment will be a challenge."My mom lives a mile away and she's here, and we've got a great nanny," he says. "We're taking it in chunks for lack of a better word. I'm explaining that I won't be around for a few days and then we'll be together for Thanksgiving and then I won't be around for a few weeks and then we'll be together for Christmas ... and then when summer's here we'll be together every single morning. We just want to make it more manageable for them." Amy Carlson Gustafson can be reached at 651-228-5561. This entry passed through the Full-Text RSS service — if this is your content and you're reading it on someone else's site, please read our FAQ page at fivefilters.org/content-only/faq.php |
| You are subscribed to email updates from kids shoes - Bing News To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google Inc., 20 West Kinzie, Chicago IL USA 60610 | |
0 comments:
Post a Comment