Steve Madden acquires Almost Famous for 52 million dollars

Steven Madden, Ltd. has completed the acquisition of privately held Almost Famous, a designer and marketer of women’s apparel.

The company said in a statement that the acquisition was completed for 52 million dollars in cash, plus an earn-out provision based on future financial performance.

Commenting on the acquisition, Edward Rosenfeld, chairman and CEO of Steve Madden, said: “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.”

Almost Famous markets products under its own brands, primarily Almost Famous, as well as private label brands for various retailers. The company has also been the exclusive licensee of Madden NYC apparel since its launch in 2022.

“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,” added Peter Kossoy and Robbie Regina, former owners and co-presidents of Almost Famous.

Almost Famous distributes its products to wholesale customers, including mass merchants, department stores, off-price retailers and chain stores within the United States. The company reported revenue in the 12 months ended September 30, 2023 of approximately 163 million dollars.