Steve Madden Announces Acquisition of Blondo
January 28 2015 - 9:00AM
Business Wire
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.
ICR, Inc.Investor RelationsJean Fontana/Megan
Crudele203-682-8200www.icrinc.com
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