Payless hopes Tailwind line of shoes pushes it to victory
Payless ShoeSource Inc. has paired with a subsidiary of Nike Inc. to market a high-performance $34.99 running sneaker, a move that both companies hope will tap a lucrative market.
Under the terms of the multiyear deal, Exeter Brands Group LLC, a wholly owned subsidiary of Nike, will design and produce the shoes under the Tailwind collection, while Topeka-based Payless will serve as the exclusive retailer.
Marshal Cohen, chief analyst at NPD Group Inc., a Port Washington, N.Y.-based market research company, said that the Tailwind shoe will break new ground in the $3.5 billion mass-market athletic shoe industry because of the footwear's technology.
"This takes the low end to a new extreme," said Cohen, who noted that what is being offered in the high-performance athletic footwear sold at mass chains is not high-tech.
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