Payless ShoeSource

Acquisitions

Pay-Less National was founded in 1956 in Topeka, Kansas, by two cousins, Louis and Shaol Pozez, to open self-service stores selling budget footwear. Circa 1962–1963, Volume Shoe company purchased the original Hill Brothers Shoe Company based in Kansas City, Missouri and converted all 25 of their stores to the "Payless" name. In 1971, Volume Shoe obtained the second Hill Brothers Shoe Store chain that was started in St. Louis, Mo in 1956 by Al Melnick and Sol Nathanson with the assistance and aid of the original Hill Brothers in Kansas City. The St. Louis version of "'Hill Brothers Self Service Shoe Store'" went from 3 to 103 stores in the Midwest and South between 1956 and 1971. Volume Shoe originally operated the 103 stores under the "Hill Brothers Self Service" name.

Starting in 1972, Volume Shoe began to consolidate stores in proximity and convert others to the "Payless" brand. The St. Louis operation of "'Hill Brothers Self Service'" stores were known for their bare bones minimalism and the slogan "two for five – man alive!", that is, women and children's shoes were two pair for five dollars. In 1979, Volume Shoe was acquired by The May Department Stores Company.

Payless bought Picway Shoes from the Kobacker department store chain in 1994. In 1996, May spun off Payless to shareholders, making it once again an independent, publicly traded firm.

Payless acquired the mid-priced shoe chain Parade of Shoes from J. Baker, Inc. in 1997. It opened locations on the sales floor inside Shopko discount stores, replacing J. Baker. As part of a major restructuring, Payless announced in 2004 that it will close down the Parade chain and hundreds of Payless outlets.

On June 27, 2006, Payless announced that it was launching a new logo created to represent a more stylish, upscale and contemporary company. In 2018, the company advertised under a stunt premium banner, Palessi Shoes, to demonstrate that its products could pass for high-end designer brands.