Steve Madden Branching Out to Apparel

Footwear and accessories brand Steve Madden Ltd. (Long Island City, N.Y.) has signed a licensing agreement with L'Koral Industries to design and market a women’s fashion apparel line. “I'm very excited about creating trend-right ready-to-wear for the Steve Madden customer,” says chief creative officer Madden, who founded the brand 19 years ago.

The apparel line is expected to launch in spring 2010 and is described as having a bohemian flare, including trendy items such as pixie dresses, boyfriend jacket affixed with exposed zippers and hardware details.

L'Koral, which was founded in 1983, designs and markets apparel for more than eight brands, including LaRok, Mary Kate and Ashley Olsen's Elizabeth and James, and Patterson J. Kincaid. The company distributes its various brands to both the mass market sector, including Walmart, JCPenney and Kohl's, and high-end contemporary retailers such as Neiman Marcus, Intermix and Barneys New York.

Steve Madden sells its footwear and accessories for women, men and children at its 88 company-owned stores, as well as department stores and specialty shops. The company forecast that its third-quarter profit, which is due out November 3, will rise 56 percent and predicts net sales of about $140 million, compared with $128.1 million last year.