LONG ISLAND CITY, N.Y.--(BUSINESS WIRE)--Jan. 28, 2015--
Steve Madden (Nasdaq:SHOO), a leading designer and marketer of fashion
footwear and accessories for women, men and children, today announced
that it has acquired the intellectual property and related assets of
Blondo, a fashion-oriented footwear brand specializing in waterproof
leather boots, from Regence Footwear Inc. and 3074153 Canada Inc.
Founded over 100 years ago, Blondo products are sold to wholesale
customers, including better department stores and specialty boutiques in
both the U.S. and Canada, and online at www.blondo.ca.
Blondo markets products under its owned brands which include Blondo®,
BlondoSport™, Be by Blondo™, AquaProtect®, Faber®, StudioB Blondo™,
College® and Aqua College™, as well as under retailer private labels.
Blondo’s trailing twelve month net sales as of November 30, 2014 were
approximately US$25 million. The terms of the transaction were not
disclosed.
Due to the seasonal nature of the business, the transaction is expected
to be dilutive in the first half and accretive in the back half of 2015,
contributing approximately $0.01 to diluted EPS for the full year fiscal
2015.
Edward Rosenfeld, Chairman and Chief Executive Officer, commented, “We
are pleased to complete the acquisition of Blondo, a brand known for
footwear that marries fashion with function. Blondo adds authentic
weather-resistant footwear collections that complement the Steve Madden
portfolio. By leveraging our proven business model and established
infrastructure, we believe there is significant opportunity to expand
the Blondo business globally.”
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®, Steven by Steve
Madden®, Madden Girl®, Freebird by Steven™, Stevies®, Betsey
Johnson®, Dolce
Vita®, DV by Dolce Vita®, Brian
Atwood®, B Brian Atwood®, Report Signature®, Report®,
Big
Buddha®, Wild
Pair®, Cejon®
and Mad Love®, Steve Madden is the licensee of various brands, including
Olsenboye® for footwear, handbags and belts and Superga®
and l.e.i.® for footwear. 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 160 retail stores (including Steve Madden's four Internet
stores). Steve Madden licenses certain of its brands to third parties
for the marketing and sale of certain products, including for
ready-to-wear, outerwear, intimate apparel, 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, dress shoes, sandals and more, visit http://www.stevemadden.com/
Safe Harbor
This press release and oral statements made from time to time by
representatives of Steve Madden contain certain “forward looking
statements” as that term is defined in the federal securities laws. The
events described in forward looking statements may not occur. Generally
these statements relate to business plans or strategies, projected or
anticipated benefits or other consequences of Steve Madden's plans or
strategies, projected or anticipated benefits from acquisitions to be
made by Steve Madden, or projections involving anticipated revenues,
earnings or other aspects of Steve Madden's operating results. The words
"may," "will," "expect," "believe," "anticipate," "project," "plan,"
"intend," "estimate," and "continue," and their opposites and similar
expressions are intended to identify forward looking statements. Steve
Madden cautions you that these statements concern current expectations
about Steve Madden’s future results and condition and are not guarantees
of future performance or events and are subject to a number of
uncertainties, risks and other influences, many of which are beyond
Steve Madden's control, that may influence the accuracy of the
statements and the projections upon which the statements are based.
Factors which may affect Steve Madden's results include, but are not
limited to, the risks and uncertainties discussed in Steve Madden's
Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current
Reports on Form 8-K filed with the Securities and Exchange Commission.
Any one or more of these uncertainties, risks and other influences could
materially affect Steve Madden's results of operations and financial
condition and whether forward looking statements made by Steve Madden
ultimately prove to be accurate and, as such, Steve Madden's actual
results, performance and achievements could differ materially from those
expressed or implied in these forward looking statements. Steve Madden
undertakes no obligation to publicly update or revise any forward
looking statements, whether as a result of new information, future
events or otherwise.
Source: Steve Madden
ICR, Inc.
Investor Relations
Jean Fontana/Megan Crudele
203-682-8200
www.icrinc.com