Payless ShoeSource is an American discount footwear retailer headquartered in Topeka, Kansas in 1956 by brothers Louis and Shaol Pozez that is owned by Collective Brands, Inc. In 1961, it became a public company as the Volume Shoe Corporation which merged with the May Department Stores Company in 1979.
On August 16, 2007, the company changed its name to Collective Brands, Inc.
In 2012, Wolverine World Wide added Saucony, Keds, Stride Rite and Sperry Top-Sider to their list of subsidiaries after a joint agreement with Blum Capital Partners and Golden Gate Capital acquired the Performance Lifestyle Group of Collective Brands for US$1.23 billion.
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Collective Brands was the parent company for Payless ShoeSource, a footwear, accessory and lifestyle brand company; Collective Brands' Performance + Lifestyles Group (formerly The Stride Rite Corporation); and Collective Licensing International.