Steven Madden has completed its acquisition of the privately held women’s fashion label Almost Famous, further expanding its reach in the apparel category.
Almost Famous markets products under its own brands (primarily Almost Famous), which can be found at retailers including Kohl’s, Macy’s, Walmart and Amazon Fashion. The company also develops private label brands for a range of retailers, including mass merchants, department stores, off-price retailers and chain stores in the U.S. Almost Famous also has been the exclusive licensee of Madden NYC apparel since its launch in 2022.
“We are pleased to further enhance our apparel platform with the acquisition of Almost Famous,” said Edward Rosenfeld, Chairman and CEO of Steve Madden in a statement. “With its expertise in junior apparel and strength in value-priced channels, Almost Famous is a strong complement to our existing Steve Madden apparel business, which is focused on contemporary styling and is primarily distributed in department stores and ecommerce retailers.”
For the 12 months ending Sept. 30, 2023, Almost Famous reported revenue of approximately $163 million. Steve Madden paid $52 million in cash for the brand, subject to a working capital adjustment as well as an earn-out provision based on future financial performance.
Advertisement
