Steve Madden shoes have adorned the shelves of many a closet wall since the monster company was founded in 1990. Now the mogul of the shoe industry has walked themselves into a $60 million deal with privately held Dolce Vita Holdings, Inc.
Steve Madden has established itself in the design industry as fashion-forward in the design of footwear and accessories for women, men and children. The company not only markets products under its own brand, it is the licensee of various brands. Steve Madden, Ltd. also designs and sources products under private label brand names for various retailers.
Founded in 2001, Dolce Vita Holdings, Inc. is a company specializing in the design, sourcing and sale of branded and private label footwear. The company sells its fashion-forward footwear to wholesale customers, including department stores, boutiques, and online on their website. Last year Dolce Vita had net sales of around $111 million.
Edward Rosenfeld, Chairman and Chief Executive Officer of Steve Madden commented, “We are very pleased to complete the acquisition of Dolce Vita, a brand that is known for its chic, modern styles and strong following among trend-conscious consumers. We see significant opportunity to expand the business by combining Dolce Vita’s strengths – which include an outstanding brand and superior design – with our proven business model and infrastructure. We are particularly pleased that the founders Van and Nick will remain with Dolce Vita and continue to lead the business into its next phase of growth.”
Van Lamprou and Nick Lucio, Founders of Dolce Vita, shared similar sentiments, “We are excited to be joining the Steve Madden family. We are very proud of what we have built at Dolce Vita over the last 13 years, and we believe that Steve Madden is the perfect partner to help the brand reach its full potential. We look forward to working with the Steve Madden team to take Dolce Vita to new heights in the coming years.”