Steven Madden buys Brian Atwood
"Brian is a Midwest boy and he's brilliant. We like that."
In a deal that has been facilitated by Bluestar Alliance LLC – first was interested in acquiring the brands which have been under The Jones Group Inc since 2012, and subsequently introduced the label to Madden – Brian Atwood has been bought out.
It's a move that takes Steven Madden Ltd. into a new market segment, competing against shoe designers such as Charlotte Olympia, Manolo Blahnik, Jimmy Choo, Nicholas Kirkwood, and Christian Louboutin.
The overall volume of Atwood's businesses is about $20 million, and according to Madden, who continues to work as the creative consultant for his namesake business, "I plan on tripling it in the first year."
Madden revealed he was attracted to Atwood for various reasons. "Brian Atwood is a premier designer and he's also American, which I love, although everybody gets upset when I say that. When you go to the floors at Barneys, there aren't many American designers. Brian is a Midwest boy and he's brilliant. We like that."
He further added that as opposed to Steven Madden Ltd., he liked that Atwood is in the high-end luxury segment. "We're already in contemporary. Now we're in super luxury as well. We're excited to be in both businesses," Madden said.