Profile: Steven Madden Ltd (SHOO.OQ)
26 Dec 2014
Steven Madden, Ltd., incorporated on November 10, 1998, designs, sources, markets and sells name brand and private label footwear for women, men and children and name brand and private label fashion handbags and accessories. The Company operates in five segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing. Its products are marketed through its retail stores and its e-commerce websites, as well as better department stores, major department stores, mid-tier department stores, specialty stores, luxury retailers, value priced retailers, national chains, mass merchants and catalog retailers throughout the United States and Canada. In addition, the Company has special distribution arrangements for the marketing of its products in Asia, Europe, the Middle East, Mexico, India, South Africa and South and Central America. As of December 31, 2013, the Company operated 121 (including four e-commerce websites) retail stores, respectively. On August 14, 2014, Steven Madden Ltd acquired Dolce Vita Holdings Inc.
Wholesale Footwear Segment
The Company designs, sources and markets its Steve Madden brand to department stores, specialty stores, luxury retailers, value priced retailers, national chains, mass merchants, online retailers and catalog retailers throughout the United States and Canada. The Company design, source and markets a collection of directional young women's shoes under the Madden Girl brand. Madden Girl is geared for young women ages 13 to 20. The Company designs, sources and markets a collection of directional men's shoes and fashion forward athletic shoes targeted at men ages 18 to 40 years old under the Steve Madden brand and sold in major department stores, mid- tier department stores, better specialty stores, online retailers and independent shoe stores throughout the United States.
The Company’s Madden brand is a streetwear focused collection of footwear geared to meet the trend directions of the 13 to 21 year old fashion consumer. The Company designs, sources and markets women's fashion footwear under the Steven trademark through major department and better footwear specialty stores throughout the United States, as well as in its retail stores. The Company’s Stevies and Steve Madden Kids brands are designed, sourced and marketed to appeal to young girls, ages six to 12, and are sold at department stores, specialty stores, online retailers and independent boutiques throughout the United States. It designs, sources, and markets a full collection of handcrafted, Goodyear welted boots. The Company designs, sources and markets private label footwear primarily to specialty retailers, mid-tier chains and mass market merchants. In addition, it designs, sources and markets footwear for third party brands, such as Material Girl and Candies.
Wholesale Accessories Segment
The Company’s Wholesale Accessories segment designs, sources and markets name brands (including its Steve Madden, Steven by Steve Madden, Madden Girl, Betsey Johnson, Betseyville and Big Buddha brands and Olsenboye, under license,) and private label fashion handbags and accessories to department stores, mass merchants, value priced retailers, online retailers and specialty stores throughout the United States and Canada. In addition, it markets and sells cold weather accessories, fashion scarves, wraps and other trend accessories primarily under its Cejon and the Steve Madden brand names and private labels to department stores and specialty stores.
During the year ended December December 31, 2013, the Company's wholly owned subsidiary, Steven Madden Retail, Inc., owned and operated 121 retail stores including 97 Steve Madden full price stores, 17 Steve Madden outlet stores, two Steven stores, one Superga store and four e-commerce Websites. During 2013, it opened six new full price stores, six new outlet stores, established a FREEBIRD by Steven online store and closed its one Report store. Steve Madden stores are located in major shopping malls and in urban street locations across the United States and Canada. Comparative store sales decreased 2.1% in fiscal year 2013. The Company excludes new locations from the comparable store base for the first year of operations. Stores that are closed for renovations are removed from the comparable store base.
First Cost Segment
The First Cost segment earns commissions for serving as a buying agent for footwear products under private labels for many of the large mass-market merchandisers, shoe chains and other mid-tier retailers. As a buying agent, it utilizes its expertise and its relationships with shoe manufacturers to facilitate the production of private label shoes to its customers' specifications.
The Company licenses its Steve Madden and Steven by Steve Madden trademarks for use in connection with the manufacture, marketing and sale of sunglasses, eyewear, outerwear, bedding, hosiery and women's fashion apparel, jewelry, watches and luggage. In addition, the Company licenses the Betsey Johnson and Betseyville trademarks for use in connection with the manufacture, marketing and sale of apparel, jewelry, swimwear, eyewear, watches, fragrances and outerwear.
The Company competes with Nine West, Jessica Simpson, Guess, Ugg and Aldo.
Steven Madden Ltd
52-16 BARNETT AVE
LONG ISLAND CITY NY 11104