Profile: Steven Madden Ltd (SHOO.O)
4 Mar 2015
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 and licenses its trademarks for use in connection with the manufacture, marketing and sale of various products of its licensees. The Company operates in five business segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing. The Company’s products are marketed through its retail stores and its e-commerce Websites, as well as department stores, mid-tier department stores, specialty stores, retailers, national chains, mass merchants and catalog retailers throughout the United States and Canada. In addition, it has distribution arrangements for the marketing of its products in Asia, Europe, the Middle East, Mexico, India, South Africa and South and Central America. Its customers include Macy's, DSW, Kohl's, Ross, Nordstrom, Dillard's, Target, Walmart, Payless, Marshall's and TJ Maxx.
The Company’s Wholesale Footwear segment consists of brands, including Steve Madden Women's, Madden Girl, Steve Madden Men's, Steven, l.e.i. (under license), Olsenboye (under license), Stevies, Steve Madden Kids, Madden, Betsey Johnson shoes, Report, Superga (under license), and also includes its International business and certain private label footwear business. It designs, sources and markets its Steve Madden brand to department stores, specialty stores, retailers, national chains, mass merchants, online retailers and catalog retailers throughout the United States and Canada. Steve Madden Women's offers footwear designed to appeal to women customers of age between 16 to 35 years. New products for Steve Madden Women's are test marketed at Company-owned retail stores. It designs, sources and markets a collection of young women's shoes under the Madden Girl brand. Madden Girl is geared for young women ages 13 to 20. It designs, sources, and markets a collection of men's footwear for the man, ages 18 to 45 years old, under the Steve Madden brand. The Madden brand is a streetwear focused collection of footwear for the 13 to 21 year old consumer. It designs, sources and markets women's fashion footwear under the Steven trademark through department and footwear specialty stores throughout the United States, as well as in its retail stores. Steven products are designed to appeal to women, ages 25 to 45 years old. The Company uses the l.e.i. trademark in connection with the sale and marketing of footwear exclusively to Wal-Mart.
The Company uses the Olsenboye trademark in connection with the sale and marketing of footwear exclusively to J.C. Penney. Its Stevies and Steve Madden Kids brands are designed, sourced and marketed for girls, ages 6 to 12 years old. The Company’s Betsey Johnson and Betseyville shoe brands are distributed through department stores, such as Nordstrom, Dillard's and J.C. Penney and online retailers, such as Amazon.com and Zappos. It uses Superga trademark in connection with the marketing and sale of footwear, such as sneakers that come in a range of colors, fabrics and prints. It designs, sources, and markets a collection of handcrafted, Goodyear welted boots known as The FREEBIRD by Steven collection. It designs, manufactures, markets and sells its Report brand and Report Signature brand to department stores and independently owned boutiques throughout the United States. The Mad Love brand is beach-to-the-street life style brand for Target, created to appeal to women. The International Division of the Company ships products to Asia, Canada, Europe, the Middle East, Mexico, South Africa, India and Central and South America. It designs, sources and markets private label footwear 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.
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, 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 under its Cejon and the Steve Madden brand names and private labels to department stores and specialty stores.
As of 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. Durinf the year ended December 31, 2013, the Company opened six full price stores, six outlet stores, established a FREEBIRD by Steven online store. Steve Madden stores are located in shopping malls and in urban street locations across the United States and Canada.
The Company’s First Cost segment earns commissions for serving as a buying agent for footwear products under private labels for many of the mass-market merchandisers, shoe chains and other mid-tier retailers. Its First Cost segment earns commissions serving as a buying agent for the procurement of women's, men's and children's footwear for retailers, including, Kohl's, K-Mart and Sears.
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. Most of its license agreements require the licensee to pay the Company a royalty based on actual net sales, a minimum royalty in the event that specified net sales targets are not achieved and a percentage of sales for advertising the brand.
The Company competes with Nine West, Jessica Simpson, Guess, Ugg and Aldo.
Steven Madden Ltd
52-16 BARNETT AVE
LONG ISLAND CITY NY 11104