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Steve Madden acquires Schwartz & Benjamin

By Prachi Singh

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Report

Steve Madden has completed the acquisition of the privately held Schwartz & Benjamin family of companies, which specialize in the design, sourcing and sale of licensed and private label footwear. Founded in 1923, Schwartz & Benjamin distributes its fashion footwear to wholesale customers, including department stores and specialty boutiques, as well as the retail stores of its brand partners.

Commenting on the acquisition, Edward Rosenfeld, Chairman and CEO of Steve Madden, said in a statement, “We are very pleased to complete the acquisition of Schwartz & Benjamin, a company known for its outstanding capability in designer and accessible luxury footwear. We see opportunity to expand the business by combining Schwartz & Benjamin’s strengths – which include premier execution in the design and sourcing of high-quality footwear as well as a strong portfolio of brand partners – with our proven business model and infrastructure.”

Steve Madden takes over Schwartz & Benjamin

Schwartz & Benjamin’s current brand partners include Kate Spade, Rebecca Minkoff, Alice + Olivia and Avec Les Filles. The company also designs and sources private label footwear for various retailers. Schwartz & Benjamin’s net sales for the 12 months to December 31, 2016 were approximately 87.6 million dollars.

The company’s Chief Executive Officer Danny Schwartz, Chief Creative Officer Barbara Schwartz and President and Chief Operating Officer Steve Shapiro will remain with Schwartz & Benjamin.

“We at Schwartz & Benjamin are excited to be joining forces with Steve Madden. We are proud of our 93-year history of creating footwear that satisfies the needs of our brand partners, wholesale clients and consumers, and we look forward to continuing to do so for many years to come with the added support and resources of Steve Madden,”added Danny Schwartz.

Picture:Facebook/Steve Madden

schwartz & benjamin
Steve Madden