Payless shoes expanding into Russia

? Collective Brands says it plans to open its first Payless shoe stores next year in Russia, its latest market for international expansion.

Collective Brands Inc. said Tuesday that it and partner M.H. Alshaya Co. will open five frnachised Payless ShoeSource stores in Russia late next year. It says they hope to open at least 90 stores there in about five years and more than 300 stores total longer-term.

The terms of the partnership were not disclosed.

M.H. Alshaya is also its partner in the Middle East. That venture was launched earlier this year with stores in Saudi Arabia, United Arab Emirates and Kuwait.