Steve Madden has acquired the intellectual property and related assets of Blondo, a fashion-oriented footwear brand specializing in waterproof leather boots, from Regence Footwear Inc. and 3074153 Canada Inc.
Founded over 100 years ago, Blondo products are sold to wholesale customers, including better department stores and specialty boutiques in both the U.S. and Canada, and online at www.blondo.ca. Blondo markets products under its owned brands which include Blondo, BlondoSport, Be by Blondo, AquaProtect, Faber, StudioB Blondo, College and Aqua College, as well as under retailer private labels. Blondo’s trailing twelve month net sales as of November 30, 2014 were approximately US$25 million. The terms of the transaction were not disclosed.
Due to the seasonal nature of the business, the transaction is expected to be dilutive in the first half and accretive in the back half of 2015, contributing approximately $0.01 to diluted EPS for the full year fiscal 2015.
Edward Rosenfeld, Chairman and Chief Executive Officer, commented, “We are pleased to complete the acquisition of Blondo, a brand known for footwear that marries fashion with function. Blondo adds authentic weather-resistant footwear collections that complement the Steve Madden portfolio. By leveraging our proven business model and established infrastructure, we believe there is significant opportunity to expand the Blondo business globally.”
Steve Madden designs, sources and markets fashion-forward footwear and accessories for women, men and children. In addition to marketing products under its own brands including Steve Madden, Steven by Steve Madden, Madden Girl, Freebird by Steven, Stevies, Betsey Johnson, Dolce Vita, DV by Dolce Vita, Brian Atwood, B Brian Atwood, Report Signature, Report, Big Buddha, Wild Pair, Cejon and Mad Love, Steve Madden is the licensee of various brands, including Olsenboye for footwear, handbags and belts and Superga and l.e.i. for footwear.
