Steven Madden Ltd. has completed the acquisition of Almost Famous, a privately-held maker of women’s apparel for $52 million in cash.
Almost Famous markets products under its own brands, primarily Almost Famous, as well as private label brands for various retailers. It has also been the exclusive licensee of Madden NYC apparel since its launch in 2022. The company distributes its products to wholesale customers, including mass merchants, department stores, off-price retailers and chain stores within the U.S. Revenues in the 12 months ended September 30 were $163 million. The purchase price is subject to a working capital adjustment, plus an earn-out provision based on future financial performance.
Edward Rosenfeld, chairman and CEO of Steve Madden, commented, “We are pleased to further enhance our apparel platform with the acquisition of Almost Famous. 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 e-commerce retailers.”
Peter Kossoy and Robbie Regina, former owners and co-presidents of Almost Famous, added, “We are excited to join the Steve Madden family. We are proud of what we’ve built at Almost Famous and look forward to partnering with Steve Madden to take the business to new heights in the coming years.”
Steve Madden’s brands include Steve Madden, Dolce Vita, Betsey Johnson, Blondo and GREATS.
