Steve Madden is continuing its buying spree with the acquisition of women’s clothing company BB Dakota.
Executives at the New York-based footwear and accessories company, founded by designer and businessman Steve Madden in 1990, announced on Monday that they had completed a deal to purchase sneaker brand Greats, and they followed it up on Tuesday by confirming they had also acquired BB Dakota.
“BB Dakota is so in tune with the Steve Madden girl. I always thought it would be great to combine forces, and now that dream has come true. It’s a perfect match,” Madden said in a statement, while the company’s chief executive Edward Rosenfeld added, “We are pleased to complete the acquisition of BB Dakota, an apparel company known for its consistently on-trend designs. With its laser focus on product and strong track record of execution, we believe BB Dakota is a great fit for Steve Madden and provides the ideal platform to expand our brands in the apparel category.”
BB Dakota, which was founded in 2005 by Gloria Brandes, is based in California and known for “stylish classics with an effortless attitude”. The company, which owns brands BB Dakota and Jack by BB Dakota as well as licensed label Cupcakes and Cashmere, had net sales of an estimated $43 million (£36 million) in the 12 months ending 30 June.
“We are tremendously excited by this dynamic partnership that will serve to jump-start the Steve Madden apparel segment of this strong company and we plan to take full advantage of this opportunity for growth,” Brandes said.
Steve Madden also markets products under its own brands including Dolce Vita, Betsey Johnson, Blondo, Report, Brian Atwood, Cejon, Mad Love, and Big Buddha.
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