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Steve Madden acquires remaining share of European joint venture

Apr 19, 2021 United States
Steve Madden acquires remaining share of European joint venture
The US-based designer and marketer of fashion-forward footwear, accessories and apparel for women, men and children, announced that it has completed the acquisition of the 49.9% share that it did not already own of its European joint venture

The European joint venture was formed in June 2016 and distributes Steve Madden-branded footwear and accessories to most countries throughout Europe.

“Since its formation nearly five years ago, our European joint venture has experienced strong double-digit percentage revenue growth each year, including a 21% 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 capitalize on our strong momentum and digital-first positioning”, commented Edward Rosenfeld, Chairman and Chief Executive Officer.

Image credits: Fashion Gone Rogue

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