Steven Madden, Ltd. acquired privately-held Almost Famous, a designer and marketer of women’s apparel. Almost Famous markets products under its own brands, primarily Almost Famous, as well as private label brands for various retailers. Almost Famous has also been the exclusive licensee of Madden NYC apparel since its launch in 2022.
Almost Famous distributes its products to wholesale customers, including mass merchants, department stores, off-price retailers, and chain stores within the U.S.
Almost Famous reported revenue of approximately $163 million in the 12 months ended September 30, 2023. Almost Famous was acquired for $52 million in cash, subject to a working capital adjustment plus an earn-out provision based on future financial performance.
“We are pleased to further enhance our apparel platform with the acquisition of Almost Famous,” commented Edward Rosenfeld, chairman and CEO of Steve Madden, Ltd. “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.”
Photo courtesy Almost Famous
