First 'Direct-to-Retail' Licensed Footwear Program for Both Companies;
Distinctive Collection of Disney Styles to Launch at Payless Stores for
2007 Back-to-School Season
TOPEKA, Kan. and GLENDALE, Calif., Nov. 21 /PRNewswire-FirstCall/ --
Disney (NYSE: DIS) and Payless ShoeSource (NYSE: PSS) have strengthened
their relationship with plans to develop their first 'direct-to-retail'
licensed footwear collection. The multi-year deal announced today will
bring together the Payless and Disney design teams to create a special line
of fun, high-quality footwear styles featuring Disney and Disney*Pixar
characters. Payless will source, market and sell the line through its
nearly 4,600 store chain and on Payless.com.
Payless has sold Disney-themed footwear and accessories for several
years; however, the two companies will now work more closely on shoe
design, creative direction and retail marketing.
"Payless' mission is to democratize fashion and design in footwear and
accessories for the family and this new Disney collection will platform us
to achieve our mission," said Matt Rubel, CEO of Payless ShoeSource.
"Payless is the number one footwear retailer for kids' shoes; Disney is a
premier kids' brand company. Together, we'll create a fun, exciting and
creative line that will inspire kids, while allowing parents to pay less."
Payless and Disney will innovate in the kids' footwear arena with
eye-catching designs, creative art styles and intriguing shoe silhouettes.
Character styles will include: Disney Princess -- Disney's $3.4 billion
girl's lifestyle brand; Power Rangers -- Disney's #1 boy's brand; Winnie
the Pooh; and an assortment of Disney*Pixar characters from The Incredibles
and Finding Nemo. The first products are currently scheduled to be in
stores in Spring 2007 with an expanded line in time for next year's
back-to-school season.
"Payless is ideal for our first direct-to-retail footwear collaboration
because the company is well-aligned with Disney's goal to create quality,
on-trend products for kids and families," said Andy Mooney, chairman of
Disney Consumer Products. "Being closely involved with the shoe design
process is a significant step for us, and we plan to have a truly
integrated relationship with Payless, the nation's leading footwear
retailer, from creative to point of sale."
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 to inspire fun fashion possibilities
for the family. As of the end of the third quarter 2006, the Company
operated a total of 4,574 stores. In addition, customers can buy shoes over
the Internet through Payless.com(R) at http://www.payless.com.
About Disney Consumer Products
Disney Consumer Products (DCP) is the business segment of The Walt
Disney Company (NYSE: DIS) that extends the Disney brand to merchandise
ranging from apparel, toys, home decor and books to interactive games, food
and beverages, stationery, electronics and animation art. This is
accomplished through the work of DCP's various lines of business: Disney
Toys, Disney Softlines, Disney Home, Disney Food, Health & Beauty, Disney
Stationery, Disney Publishing, Buena Vista Games, Baby Einstein, the
Muppets Holding Company and Disney Shopping, Inc.'s catalog and
http://disneyshopping.com. The Disney Store, which debuted in 1987, also
falls under DCP, through stores currently owned and operated by
unaffiliated third parties under licensing agreements in North America and
Japan, and wholly owned stores in Europe. For more information about DCP,
please visit our web site at http://www.disneyconsumerproducts.com.
SOURCE Payless ShoeSource
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Related links:
http://www.payless.com
http://disneyshopping.com
http://www.disneyconsumerproducts.com
CONTACT:
Payless Media: Mardi Larson, +1-612-928-0202,
or Financial, Ron Cooperman, +1-785-295-6026, both of Payless
ShoeSource; Disney Media: Norma Rosenfield of Disney,
+1-818-591-2264
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