LONG ISLAND CITY, N.Y.--(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.