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US company Steve Madden acquires remaining share of European JV

16 Apr '21
1 min read
Pic: Steve Madden
Pic: Steve Madden

Steve Madden Ltd, a leading designer and marketer of fashion-forward footwear, accessories and apparel for women, men and children, has completed the acquisition of the 49.9 per cent share that it did not already own of its European joint venture. In addition to marketing products, Steve Madden also operates retail stores and e-commerce websites.

The European joint venture was formed in June 2016 and distributes Steve Madden-branded footwear and accessories to most countries throughout Europe. The company's own brands include Steve Madden, Dolce Vita, Betsey Johnson, Blondo, GREATS, BB Dakota and Mad Love. Steve Madden is also a licensee of various brands, including Anne Klein and Superga.

“Since its formation nearly five years ago, our European joint venture has experienced strong double-digit percentage revenue growth each year, including a 21 per cent revenue gain in 2020 despite the impact of COVID-19. We are pleased to take full ownership of our business in this critical market, and look forward to continued growth in the region as we capitalise on our strong momentum and digital-first positioning,” said Steve Madden chairman and chief executive officer Edward Rosenfeld.

Fibre2Fashion News Desk (RKS)

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