Profile: Steven Madden Ltd (SHOO.O)
6 Dec 2013
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’s products are marketed through its retail stores and its e-commerce Websites, as well as 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, Australia, South Africa, South America and India. The Company operates in five segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing.
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 and catalog retailers throughout the United States. 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 and independent shoe stores throughout the United States, as well as in its retail stores.
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 6 to 12, and are sold at department stores, specialty stores and independent boutiques throughout the United States. The Company’s Madden brand includes a collection of men's shoes. The Company design, source and market private label footwear primarily to specialty retailers, mid-tier chains and mass market merchants. In addition, the Company design, source and market 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 Daisy Fuentes and Olsenboye, each under license, and its Steve Madden, Steven by Steve Madden, Betsey Johnson, Betseyville and Big Buddha brands) and private label fashion handbags and accessories to department stores, mass merchants, value priced retailers and specialty stores throughout the United States. 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 31, 2012, the Company's wholly-owned subsidiary, Steven Madden Retail, Inc., owned and operated 109 retail stores, including 91 Steve Madden full price stores, eleven Steve Madden outlet stores, two Steven stores, one Report store, one Superga store and three e-commerce Websites. During 2012, it opened twenty new stores, acquired seven stores as part of the acquisition of SM Canada, established Superga and Betsey Johnson online stores and closed four under-performing stores. Steve Madden stores are located in shopping malls and in urban street locations across the United States and Canada.
First Cost Segment
The First Cost segment represents activities of a wholly owned subsidiary of the Company that earns commissions for serving as a buying agent for footwear products under private labels and licensed brands (such as Candie's) 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 our 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 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
LONG ISLAND CITY NY 11104