Popular affordable footwear brand to reopen 300-500 stores in US

Payless, the popular footwear retailer known for more affordable price tags on their selection of shoes, announced its relaunch on Wednesday.

The brand unveiled a new e-commerce site to supplement its reopening of brick and mortar stores, so customers can shop both in-person and online.

"We saw an opportunity for the brand to relaunch into the U.S. market, at a time when value couldn't be more critical," said Jared Margolis, CEO of Payless. "Payless is for everyone, and now more than ever, the world needs to pay-less. We are so excited to bring Payless back to you."

Payless filed for Chapter 11 bankruptcy protection in February 2019 and closed about 2,000-plus stores in North America.

Now, their goal is to open 300-500 stores across North America over the next five years, beginning with the launch of the first store in Miami, Florida. Payless said some of the new stores will have innovative technology like smart mirrors, touchscreen wall panels, and augmented reality foot comparison charts.

The retailer also announced its "Powered by Payless" initiative where it'll partner with schools across the U.S. to donate lunches and online connection tools to families struggling to adjust to virtual learning due to the COVID-19 pandemic.

The brand already has 700 existing international locations, 412 of which are in Latin and Central America.

The Associated Press contributed to this story.