Steven Madden, Ltd. today announced that it has signed a new license agreement with Daniel M. Friedman & Associates, Inc. to design, manufacture, and distribute Steve Madden branded handbags, belts, and related accessories in the United States.
The license will include fashion handbags, belts, and small leather goods under the Steve Madden and Steven by Steve Madden brands. The new products will add to the existing lines of licensed merchandise which currently include eyewear, belts, outerwear, and hosiery. The category additions will augment and complement the Company's core footwear category, broaden the Company's reach into the branded lifestyle concept, and further entrench the Steve Madden brand in the fashion and accessories market.
Daniel M. Friedman & Associates is a leading manufacturer and distributor of brand name fashion handbags and accessories and offers a tested and successful business model. The company is a longtime partner of Steven Madden, Ltd. and has been the licensee for Steve Madden belts for approximately six years. Further, the company also holds accessory licenses for Betsey Johnson, JLo by Jennifer Lopez, and Ellen Tracy, among other premier brands. Daniel M. Friedman & Associates is also well known for its own fashion belt line under the Fina Firenze brand.
“We are extremely pleased to announce this expanded partnership with Daniel M. Friedman & Associates,” said Rob Schmertz, Brand Manager for Steven Madden, Ltd. “We believe that new strategic licenses will further validate Steve Madden as a contemporary brand and this, coupled with the return of founder Steve Madden, positions the Company on the path to becoming a true global lifestyle concept.”
The new Steve Madden handbag and accessory collection will be strategically placed in the market and distributed through high-end department stores, specialty stores, and boutiques, as well as Steve Madden company stores throughout the United States.
Daniel M. Friedman, President of Daniel M. Friedman & Associates, stated, “We are excited about the launch of the new handbag line and are confident that it will be well received in department and specialty stores. We look forward to working closely with Steven Madden, Ltd.'s great design team and believe that by working together we will be able to create one of the strongest contemporary accessory brands in the marketplace.”
Jamieson Karson, Chairman and Chief Executive Officer concluded, “This new license agreement underscores our longstanding commitment to grow and diversify our business and brand in a variety of ways. We are extremely optimistic about the prospect of building Steven Madden, Ltd. through brand extensions and license arrangements and are confident that this and future partnerships will have a positive impact on the performance of the Company over the long-term.”
Steven Madden, Ltd. designs and markets fashion-forward footwear for women, men and children. The shoes are sold through Steve Madden retail stores, department stores, apparel and footwear specialty stores, and on-line at http://www.stevemadden.com. The Company has several licenses for the Steve Madden brand, including eyewear, hosiery, and belts, owns and operates two retail stores under its Steven brand, and is the licensee for l.e.i Footwear, Candie's Footwear and UNIONBAY Men's Footwear.