Steve Madden Acquires BB Dakota
After a 14-year run as an independent young-contemporary label, BB Dakota, headquartered in Costa Mesa, Calif., announced Aug. 13 that it was acquired by the footwear-and-accessories company Steve Madden.
The Long Island City, N.Y.–headquartered Steve Madden did not disclose the amount paid to acquire the young-contemporary label. However, it did say that the privately held BB Dakota enjoyed net sales of $43 million in a 12-month period that ended on June 30. BB Dakota founder and Chief Executive Officer Gloria Brandes will continue to lead the brand.
Edward Rosenfeld, chairman and chief executive officer of Steve Madden, said that BB Dakota would be a vehicle to help his company expand into the apparel category.
“We are pleased to complete the acquisition of BB Dakota, an apparel company known for its consistently on-trend designs,” he said in a statement.
Brandes, said that the acquisition would help her brand grow.
“Steve Madden and BB Dakota have a unique synergy in that they are both product-driven companies whose brands have maintained a longstanding appeal with the consumer due to superior product and accessible pricing,” Brandes said in a statement. “We are tremendously excited by the dynamic partnership that will serve to jump-start the Steve Madden apparel segment of this strong company, and we take full opportunity for growth.”
Steve Madden picked up another company a day before the BB Dakota announcement. On Aug. 12, Steve Madden announced that it acquired the privately held Greats Brand, Inc. for an undisclosed amount. The Brooklyn, N.Y.–headquartered brand launched in 2014 and manufactures premium sneakers in Italy.
Steve Madden sells footwear and accessories for the brands Steve Madden, Dolce Vita, Betsey Johnson, Blondo, Report, Brian Atwood, Cejon, Mad Love and Big Love. Steve Madden is also a licensee of brands including Anne Klein, Kate Spade, Superga and DKNY and also operates 224 retail stores and six e-commerce shops, according to a company statement.
In 2005, Brandes started BB Dakota, and by 2007 she had tripled its business, selling the brand in 5,000 stores. In a 2007 interview with California Apparel News, Brandes said that she found a unique niche for her brand, revealing that it offered upscale styling at a competitive price. “We [are] not as juniors in product as other juniors brands, and we [are] priced better than contemporary,” said Brandes.