Long Island City, NY—Continuing its quest to expand its footwear and accessories portfolio, Steven Madden today announced it acquired the intellectual property and related assets of Blondo, a fashion-oriented footwear brand specializing in waterproof leather boots, from Regence Footwear Inc. and 3074153 Canada Inc.
The terms of the transaction were not disclosed.
Founded more than 100 years ago, Blondo products are sold to wholesale customers, including better department stores and specialty boutiques in both the United States, Canada, and online at www.blondo.ca. Blondo markets products under its owned brands which include Blondo, BlondoSport, Be by Blondo, AquaProtect, Faber, StudioB Blondo, College and Aqua College, as well as under retailer private labels. Blondo’s trailing 12 month net sales as of November 30, 2014, were approximately $25 million.
Edward Rosenfeld, chairman/ceo at Steve Madden, said: “We are pleased to complete the acquisition of Blondo, a brand known for footwear that marries fashion with function. Blondo adds authentic weather-resistant footwear collections that complement the Steve Madden portfolio. By leveraging our proven business model and established infrastructure, we believe there is significant opportunity to expand the Blondo business globally.”
Citing the season nature of Blondo’s business, Steve Madden expects the acquisition to add about 1 cent a share to its full year fiscal 2015 earnings.