Steven Madden, LTD. designs wholesales and markets Steve Madden
Shoes, a line of shoes that seems to have grasped the attention
of school and college aged consumers across the country. Steve Madden
Shoes are sold through Steve Madden Retail Stores, Department Stores,
Apparel and Footwear Specialty Stores, and the Internet. The company,
under the leadership of Steve, acquired several licensees for other products
including l.e.i. Footwear and Jordache Footwear. The company also acquired
and operates a retail store under the David Aaron brand.
Learn Something! :-)
In 2001, chief operating officer, Steve Madden, was convicted of securities fraud and money laundering. He was given a three year sentence that included mandatory participation in a drug and alcohol rehabilitation program. He was reduced from chief executive officer to creative design chief and his earnings were cut in half. The restructured company was given exclusive rights to his brand name. Apparently, few people understood or cared about the complicated situation because sales have soared and Steve Madden Shoes continue to expand the marketplace.
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