Steve Madden

Topics: Steve Madden, Shoe companies Pages: 6 (2304 words) Published: May 6, 2013
Steve Madden is one of America’s most successful footwear companies. The founder of the company Steve Madden himself is from Long Island, New York. The youngest of three children, Steve‘s father owned his own Textile Business. Since he was a child Steve has been troubled and he battled with drug and alcohol abuse up until his conviction in 2002. Steve worked in many retail stores when he was younger and found a love for shoes and the fashion industry at the age of 16. After graduating from high school, he attended the University of Miami for two years until his father refused to pay tuition due to Steve’s poor grades. After leaving college, Steve worked for many retail companies learning the business. Steve and his friend collaborated to create a shoe business but found that it quickly became a failure. Soon after in 1990, using a line of credit to manufacture 500 pairs of shoes, Steve began his own company. With only $1,000 to his name at the time, Steve drove from store to store selling his shoes out of his trunk. Steve’s footwear career took off with his shoe the “Mary Lou” in 1990. By 1993 Steve opened his first store in Downtown New York City. The Chief Executive Officer of Steve Madden was Steve himself until 2001 when he resigned to assume the role of Creative and Design Chief. The CEO is now Ed Rosenfeld. In 2001, Steve pleaded guilty to conspiracy to commit money laundering and securities fraud. Later in 2002, he was sentenced to 41 months in a federal prison. Steve Madden served 2 ½ years and resumed his role as Creative and Design Chief in 2005 in his Long Island City, Queens branch. In 2006, Steve Madden Ltd won Company of the year, making this a huge accomplishment for the company and for Steve Madden himself.

Steve Madden has been selling footwear, accessories and handbags for 23 years now. The company’s main marketing objectives are to reach young and fashionable women by improving profitability of retail division, increasing shoe demand by 10% in three years, updating brand image to get the Steve Madden name on consumers’ minds, decreasing potential customers resistance to buying our product, leading to a 20% increase in sales in three years, strengthening relationships with customers, and leading to an increase in sales by 5%. They sell their products through department stores, specialty stores, company owned retail stores and discount stores in the United States and Canada. Many of the stores their products can be found in are Macy’s, Nordstrom, Dillard’s, Lord & Taylor, Steve Madden stores, Steve, Steve, DSW, Famous Footwear and Journeys. Steve Madden is continuously growing over the years and currently has 1,620 full time employees. The company has about 85 Steve Madden, Steven, Report stores and a website. There are many footwear, accessory and handbag distributors in the industry but Steve Madden’s main competitors are Guess, Kenneth Cole Productions and Skechers USA. The company’s mission statement is “ To consistently deliver trend right designs to our customers. To further build our business, we will leverage our tremendous brand equity, dominant position in fashion-forward footwear, and industry-leading design team and will work to ensure that Steven Madden, Ltd. emerges as a global lifestyle branded company”. The first shoe I investigated was the TUDOR-C. It is a beige color old oxford that laces up and is made of crotchet material. The company doesn’t offer any color other than beige. The price is $79.95 and it is available in women sizes 5.5-11. This shoe is close to a ballet shoe but has a classier look with springtime feel. The crotchet material has see threw areas and a nude lining in the front over the toe. The color is an off white – beige color but the company named it natural. All the materials used to make the shoe are man-made. They can be worn with or without socks for a dressy or casual look. These shoes will look great with jeans, shorts, capris, dresses or...

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