Footwear and accessories brand Steve Madden on Tuesday announced that it has completed the acquisition of privately held BB Dakota, a California-based contemporary women’s apparel company.
Founded in 2005 by Gloria Brandes, BB Dakota products are distributed to wholesale customers, including better department stores, e-commerce retailers and specialty boutiques, as well as on its website.
BB Dakota’s brand portfolio includes owned brands BB Dakota and Jack by BB Dakota and licensed brand Cupcakes and Cashmere. BB Dakota had net sales in the 12 months ended June 30 of approximately $43 million.
Edward Rosenfeld, chairman and CEO of Steve Madden, said, “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.”
Gloria Brandes, founder and CEO of BB Dakota, added, “Steve Madden and BB Dakota have a unique synergy in that they are both product driven companies whose brands have maintained a long-standing appeal with the consumer due to superior product and accessible pricing. 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.”
Steve Madden, founder, creative and design chief of Steve Madden, said, “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.”