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Payless ShoeSource Extends Deal With Guest Designer Stacey Bendet for Exclusive Designer Label alice + olivia for Payless(TM) to Continue for Spring and Summer '09 Seasons

    NEW YORK and TOPEKA, Kan., Sept. 2 /PRNewswire-FirstCall/ -- Payless
ShoeSource and fashion designer Stacey Bendet announced today that they
have extended their agreement for Bendet to continue to design her popular
collection, alice + olivia for Payless(TM), Bendet's footwear label that
was first launched this past spring exclusively available at Payless
stores, payless.com, and alice + olivia boutiques.

    The original agreement covers the spring, summer and fall 2008 seasons.
This new deal includes alice + olivia women's collections including shoes
and handbags for spring and summer 2009. Also, as part of the new contract,
Bendet will design girl's shoes under the alice + olivia for Payless brand,
which will be available beginning spring 2009.

    Bendet joins Lela Rose, Abaete designer Laura Poretzky, and style icon
Patricia Field as guest designers for Payless -- select fashion designers
and stylists who create designer footwear and accessory collections for
Payless featuring the latest runway and red carpet styling details. Typical
pricing for the Payless designer lines are under $40 a pair. Payless'
designer collections are among the most broadly distributed designer
footwear lines available in the United States today.

    "We are excited to continue to bring women across America -- and now
little girls -- Stacey's fun and flirty designs in the popular and
well-selling alice + olivia for Payless label," said LuAnn Via, president
and chief executive officer for Payless ShoeSource. "Stacey's original
designs have been very successful for us, and we look forward to seeing her
continued creativity and strong understanding of footwear and accessory
trends introduced at New York Fashion Week next week, and then later
available to shoppers in our stores."

    alice + olivia for Payless spring 2009 women's collection will be
unveiled at the alice + olivia presentation a week from today at New York
Fashion Week. The collection will later launch in select Payless stores and
Payless.com in spring 2009 with a summer collection to follow.

    "I am proud to partner with Payless on my first-ever footwear label and
to extend our relationship to cover the spring and summer 2009 seasons,"
said Stacey Bendet. "alice + olivia for Payless is designed to coordinate
with the alice + olivia ready-to-wear collection, and I can't wait to
unveil the full spring collection at Fashion Week. It's always a thrill to
see the creative shoe designs at Fashion Week and then in stores -- the
instore styles are near-exact to the runway shoes I design. Payless does an
amazing job."

    To introduce its spring '09 designer lines, Payless will be at New York
Fashion Week with all three designers -- Laura Poretzky at the Abaete show,
Lela Rose at the Lela Rose show and Stacey Bendet at the alice + olivia
presentation. Each collection will be unique and reflective of each
designer's signature style: Poretzky's "American international," Rose's
strong focus on "classic with a twist" and Bendet's "contemporary retro."

    About alice + olivia

    Founded in 2002 by Stacey Bendet, alice + olivia launched its "just
pants" collection to rave reviews. Soon thereafter, Andrew Rosen, founder
of Theory, became Stacey's partner in the company. Using innovative fabrics
and unique designs, alice + olivia successfully expanded into tops,
dresses, eveningwear, sweaters, bathing suits, denim and men's, creating a
unique lifestyle brand for today's retro sophisticate. The collection is
available at its signature boutiques and in over 500 stores around the
world such as Barneys, Bergdorf Goodman, Henri Bendels, Scoop, and Neiman
Marcus.

    About Payless ShoeSource

    Payless ShoeSource, Inc., a unit of Collective Brands, Inc., is the
largest specialty family footwear retailer in the Western Hemisphere and 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 first quarter 2008, the company operated more than 4,500
stores. In addition, customers can buy shoes over the Internet through
Payless.com(R) at http://www.payless.com.

    Collective Brands, Inc. (NYSE: PSS) is a leader in bringing compelling
lifestyle, fashion and performance brands for footwear and related
accessories to consumers worldwide. The company operates three strategic
units covering a powerful brand portfolio, as well as multiple price points
and selling channels including retail, wholesale, ecommerce and licensing.
Collective Brands, Inc. includes Payless ShoeSource, focused on
democratizing fashion and design in footwear and accessories through its
more than 4,500-store retail chain, with its brands American Eagle(TM),
Airwalk(R), Dexter(R), Champion(R) and designer collections Abaete for
Payless, Lela Rose for Payless and alice + olivia for Payless, among
others; Stride Rite, focused on lifestyle and athletic branded footwear and
high-quality children's footwear sold primarily through wholesaling, with
its brands including Stride Rite(R), Keds(R), Sperry Top-Sider(R),
Robeez(R), and Saucony(R), among others; and Collective Licensing
International, the brand development, management and global licensing unit,
with such youth lifestyle brands as Airwalk(R), Vision Street Wear(R),
Lamar(R), Sims(R), LTD(R), genetic(R), Dukes(TM), Rage(R), Ultra-
Wheels(R), and Skate Attack(R). Information about, and links for shopping
on, each of the Collective Brand's units can be found at
http://www.collectivebrands.com.



SOURCE Payless ShoeSource, Inc.




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Related links:
  • http://www.payless.com
  • http://www.collectivebrands.com
    CONTACT:
    Mardi Larson, +1-612-928-0202, for Payless
    ShoeSource, Inc.