Steve Madden Announces Acquisition of BB Dakota
LONG ISLAND CITY, N.Y., Aug. 13, 2019 (GLOBE NEWSWIRE) -- Steve Madden (Nasdaq: SHOO), a leading designer and marketer of fashion footwear and accessories for women, men and children, today announced that it has completed the acquisition of privately held BB Dakota, a California-based contemporary women’s apparel company known for quality, stylish classics with an effortless attitude. Founded in 2005 by Gloria Brandes, BB Dakota products are distributed to wholesale customers, including better department stores, e-commerce retailers and specialty boutiques, as well as on bbdakota.com. BB Dakota’s brand portfolio includes owned brands BB Dakota and Jack by BB Dakota and licensed brand Cupcakes and Cashmere. BB Dakota had net sales in the 12 months ended June 30, 2019 of approximately $43 million.
Edward Rosenfeld, Chairman and Chief Executive Officer of Steve Madden, commented, “We are pleased to complete the acquisition of BB Dakota, an apparel company known for its consistently on-trend designs. With its laser focus on product and strong track record of execution, we believe BB Dakota is a great fit for Steve Madden and provides the ideal platform to expand our brands in the apparel category.”
Gloria Brandes, Founder and CEO of BB Dakota, added, “Steve Madden and BB Dakota have a unique synergy in that they are both product driven companies whose brands have maintained a long-standing appeal with the consumer due to superior product and accessible pricing. We are tremendously excited by this dynamic partnership that will serve to jump start the Steve Madden apparel segment of this strong company and we plan to take full advantage of this opportunity for growth.”
Steve Madden, Founder, Creative and Design Chief of Steve Madden, commented, “BB Dakota is so in tune with the Steve Madden girl. I always thought it would be great to combine forces, and now that dream has come true. It’s a perfect match.”
About Steve Madden. Steve Madden designs, sources and markets fashion-forward footwear and accessories for women, men and children. In addition to marketing products under its own brands including Steve Madden®, Dolce Vita®, Betsey Johnson®, Blondo®, Report®, Brian Atwood®, Cejon®, GREATS®, Mad Love® and Big Buddha®, Steve Madden is a licensee of various brands, including Anne Klein®, Kate Spade®, Superga® and DKNY®. Steve Madden also designs and sources products under private label brand names for various retailers. Steve Madden’s wholesale distribution includes department stores, specialty stores, luxury retailers, national chains and mass merchants. Steve Madden also operates 225 retail stores (including seven internet stores). Steve Madden licenses certain of its brands to third parties for the marketing and sale of certain products, including ready-to-wear, outerwear, eyewear, hosiery, jewelry, fragrance, luggage and bedding and bath products. For local store information and the latest Steve Madden booties, pumps, men’s and women’s boots, fashion sneakers, dress shoes, sandals and more, visit
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Contact
Steven Madden, Ltd.
Director of Corporate Development & Investor Relations
Danielle McCoy
718-308-2611
PR Manager
Chad Evans
720-240-7935
