UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM SD
Specialized
Disclosure Report
STEVEN MADDEN,
LTD.
(Exact name of
registrant as specified in its charter)
Delaware
|
|
000-23702
|
|
13-3588231
|
(State
or other jurisdiction
of
incorporation or organization)
|
|
(Commission
File Number)
|
|
(IRS
Employer
Identification
No.)
|
52-16
Barnett Avenue, Long Island City, New York
|
|
11104
|
(Address of principal
executive offices)
|
|
(Zip
Code)
|
Arvind Dharia, Chief Financial Officer
|
(718) 446-1800
|
(Name and telephone number, including area code,
of the person to contact in connection with this report.)
|
Check the appropriate box to indicate
the rule pursuant to which this form is being filed, and provide the period to which the information in this form applies:
x Rule
13p-1 under the Securities Exchange Act (17 CFR 240.l3p-l) for the reporting period from January 1 to December 31, 2019.
Section
1 - Conflict Minerals Disclosure
Introduction
The U.S. Securities
and Exchange Commission (the “SEC”) adopted Rule 13p-1 under the Securities Exchange Act of 1934, as amended,
to implement reporting and disclosure requirements related to “conflict minerals” pursuant to Section 1502 of the
Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. Rule 13p-1 imposes certain reporting obligations on SEC registered
issuers that manufacture or contract to manufacture products in which conflict minerals are necessary to the functionality or
production of the products. Conflict minerals are defined by the SEC as gold, columbite-tantalite (coltan), cassiterite and wolframite,
including their derivatives, which are limited to tantalum, tin and tungsten for purposes of the rule (collectively, the “Conflict
Minerals”). For products that contain necessary Conflict Minerals, the registrant must conduct in good faith a reasonable
country of origin inquiry designed to determine whether any of the Conflict Minerals contained in its products originated or may
have originated in the Democratic Republic of the Congo or an adjoining country (collectively, the “Covered Countries”)
and may contribute to or finance militant groups in the region. If, based on such inquiry, the registrant knows or has reason
to believe that any of the necessary Conflict Minerals contained in its products originated or may have originated in a Covered
Country and knows or has reason to believe that those necessary Conflict Minerals may not be solely from recycled or scrap sources,
the registrant must conduct due diligence to conclude whether the necessary Conflict Minerals contained in the products did or
did not directly or indirectly finance or benefit armed groups in the Covered Countries. Products that do not contain necessary
Conflict Minerals that directly or indirectly finance or benefit armed groups in the Covered Countries are considered “DRC
Conflict Free.”
The disclosure
for the year ended December 31, 2019 is presented in this report to comply with Rule 13p-1. Numerous terms in this Form SD are
defined in the SEC’s instructions to Form SD and in SEC Release No. 34-67716 issued by the SEC on August 22, 2012, and the
reader is referred to these documents for applicable definitions.
Item 1.01 Conflict Minerals Disclosure
and Report
Company Overview
Steven Madden,
Ltd. and its subsidiaries (collectively, the “Company” or “SML”, and also referred to by
“we”, “us” or “our”) design, source, market and sell fashion-forward
name brand and private label footwear for women, men and children and name brand and private label fashion handbags, apparel and
accessories. We also license some of our trademarks for use in connection with the manufacture, marketing and sale of various
products by third party licensees. We market our products through our retail stores and our e-commerce websites within the United
States, Canada, Mexico, our joint ventures in Europe, South Africa, China, Taiwan and Israel, as well as better department stores,
major department stores, mid-tier department stores, specialty stores, luxury retailers, value-priced retailers, national chains,
mass merchants, online retailers and catalog retailers throughout the United States, Canada, Mexico, and certain European nations.
In addition, we have special distribution arrangements for the marketing of our products in Spain, Italy, Australia, the Middle
East, India, South and Central America, New Zealand and Singapore. We do not manufacture products; rather, we contract with vendors
to have them manufacture products for us. We do not directly purchase raw materials or component parts for our products. Many
of our products are made with component parts, such as zippers, buttons and working buckles, that are necessary to the functionality
of the products. These component parts are made of metal and, in some cases, may contain Conflict Minerals. Our vendors that manufacture
our products generally purchase these component parts from other third-party vendors. In light of this, we rely on our direct
vendors to provide information on the origin of the Conflict Minerals, if any, contained in components and materials included
in some of our products, including sources of Conflict Minerals that have been supplied to them from lower tier suppliers.
Overview of SML’s Conflict
Minerals Program and Reasonable Country of Origin Inquiry
In 2019, SML
undertook a number of steps to determine whether any of the products that we contracted to be manufactured for us included components
or materials that contained Conflict Minerals in order to assess the applicability to the Company of Rule 13p-1. These steps included
(i) the continuous education of certain of our employees about Conflict Minerals and of our reporting obligation; (ii) identifying
our vendors for products that could contain Conflict Minerals; (iii) communicating our vendor compliance manual, which contains
Conflict Minerals compliance requirements for our suppliers, and obtaining Conflict Minerals compliance commitments from our vendors;
(iv) educating our vendors about the Conflict Minerals reporting obligation; (v) requesting information from our vendors regarding
the Conflict Minerals content of the products and/or components that they provide; and (vi) collecting and analyzing the information
from our vendors.
As noted above,
we have developed a Conflict Minerals Policy, incorporated in our Vendor Compliance Manual, and implemented procedures for supply
chain diligence relating to Conflict Minerals. Our policy with respect to Conflict Minerals is as follows:
Conflict
Minerals
SML
expects all of our Vendors to purchase the components used in our products and the materials utilized in the production of our
products from legitimate sources not involved in the funding of conflict. In particular, SML expects all of its Vendors, in full
compliance with the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 and the rules and regulations promulgated
thereunder, to avoid the use of “conflict minerals”, specifically, tantalum, tin, tungsten and gold, which may directly
or indirectly finance or benefit armed groups in the Democratic Republic of the Congo or adjoining countries. This requirement
shall also be incorporated by reference into all purchase orders issued by SML, where the Vendor will warrant that all minerals
are conflict free, based on personal knowledge and/or written warranties provided by the vendor/supplier of component materials.
Our vendors
must acknowledge their receipt and understanding of the Conflict Minerals Policy by executing an acknowledgement and agreement
to such effect and returning it to us. Additionally, as noted therein, the Conflict Minerals Policy is incorporated into all purchase
orders issued by SML and requires that the vendor warrant that all minerals are conflict free based on personal knowledge and/or
written warranties provided by the vendor/supplier of component materials.
Further,
for calendar year 2019, we undertook a supply-chain survey of direct relevant vendors, including a reasonable country of origin
inquiry, whereby such vendors were asked to complete and execute one of two certifications or contact appropriate members of management
if they were not able to complete and execute one of the two certifications. The vendors were asked to certify that, based upon
their knowledge of the products that they manufacture for us and their inquiry of all of their suppliers of component parts for
SML products, either (i) none of the products that they manufacture for us contains any Conflict Minerals or (ii) none of such
Conflict Minerals are sourced from any Covered Country or such Conflict Minerals are from recycled or scrap sources. In addition,
for those vendors that state that they do supply products that contain Conflict Minerals, we require a completed Electronic Industry
Citizenship Coalition-Global eSustainability Initiative Conflict Minerals Reporting Template (“reporting template”)
to determine whether any of the Conflict Minerals originated in a Covered Country and whether any of the Conflict Minerals may
be from recycled or scrap sources. We have engaged with vendors through oral and written communications, as necessary, in order
to encourage and facilitate cooperation and response.
Conclusion Based on Reasonable
Country of Origin Inquiry
Based upon our
review of the certifications, reporting templates and other communications with our vendors, we have concluded in good faith that
during 2019, based on the reasonable country of origin inquiry, we have no reason to believe that any of the Conflict Minerals
necessary to the functionality or production of any of our products may have originated in any of the Covered Countries or were
not solely from recycled or scrap sources, and as such, we believe that our products are “DRC Conflict Free.” Furthermore,
we have not identified any indicator or other risks that lead us to believe that any of the Conflict Minerals in our products
could be sourced from the Covered Countries, and we consider that it is reasonable to rely upon the representations of our vendors.
We have provided
the above-referenced information on our website at www.stevemadden.com under the heading “Conflict Minerals
Disclosure” in the Corporate Governance section on the Investor Relations page.
Our success
in making determinations about the presence of Conflict Minerals in our products depends upon numerous factors, including the
respective due diligence efforts of our vendors and their supply chain as well as their willingness to provide requested information,
representations and certifications. Our inability to obtain reliable information from any party in our supply chain could have
a material impact on our ability to report on the presence of Conflict Minerals with accuracy. There can be no assurance that
our vendors will continue to cooperate with our information inquiries and requests for certifications or provide reliable and
timely documentation or other evidence that we require to enable us to make our own reasonable determinations.
Item
1.02 Exhibit
Not required.
Section
2 - Exhibits
Item 2.01 Exhibits
None.
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the duly authorized
undersigned.
|
|
|
|
STEVEN MADDEN,
LTD.
|
Date: May 27,
2020
|
|
|
By:
|
/s/
Arvind Dharia
|
|
Name:
Arvind Dharia
|
|
Title: Chief Financial Officer
|
Steven Madden (NASDAQ:SHOO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Steven Madden (NASDAQ:SHOO)
Historical Stock Chart
From Apr 2023 to Apr 2024