Steve Madden, the $2 billion footwear company founder and namesake, is still on top of every fashion trend after over 30 years in business. He sat down with his longtime partners, CEO Ed Rosenfeld and President Amelia Newton Varela, to discuss how they turned Steve Madden from one brand into a global powerhouse with Dolce Vita, Betsey Johnson and more.
A Vision of Innovation and Collaboration
Steve’s career has always been about innovation and partnership. He’s known for his cultural radar and has built a business that moves fast and agile to capture consumer attention. He and Rosenfeld and Newton Varela have been working together for almost 20 years.
Madden’s team has weathered the tough footwear industry and despite a tough 2023, they are looking forward to a better 2024. As Rosenfeld said, 2023 was a “once in a lifetime” year, especially in wholesale, but they believe the industry will bounce back.
Madden himself is optimistic about the company’s future, he cites the end of inflation and no major recession as the reasons.
Expanding and Evolving
Steve Madden has never been afraid of growth and has made several acquisitions to expand the brand. Recent ones like the $52 million acquisition of Almost Famous and BB Dakota in 2019 are a testament to that. He’s also going after apparel and wants to be an integrated shoes, handbags and clothing company.
“Seeing shoes, handbags and apparel all working together is really cool,” says Newton Varela.
Madden has a knack for being on the cultural pulse. He’s worked with celebrities like Cardi B, Olivia Jade and Sydney Sweeney and in 2024 he’s teaming up with rising designer Jessica Rich for a new collab.
In their sit down, Madden, Rosenfeld and Newton Varela talked about what’s kept their partnership strong. The three agree that a shared value system and work ethic has been key to their success.
Rosenfeld says the company’s agility and entrepreneurial spirit allows them to stay lean even as they get bigger. “No matter how big we get we maintain a sense of urgency and a scrappy attitude,” he says.
Madden says responsibility to the company and its employees is important. “If the company does well more people get to work. More people get jobs and health insurance. We get that,” he says.
Navigating the Hybrid Work Era
Since the pandemic Steve Madden has gone hybrid, the leadership team are in the office 4 days a week. Newton Varela believes in in person collaboration in the fast fashion industry, Madden who initially didn’t want to do remote work sees the value in it for attracting top talent.
They acknowledge the benefits of flexibility but also value the team culture that has been key to their success.
The team also talked about the big changes in the fashion industry over the years. Newton Varela mentioned how constant consumer engagement through social media and influencers has changed the business. “The influencers are driving sales now” she said, pointing out how brands connect with consumers has changed.
Rosenfeld said while the industry changes some things remain the same—great brands, good products and great customer experiences. “If you’re consistent with that you’ll be fine” he said.
As Steve Madden looks to 2024 it’s clear the company’s strength is not just in its designs but in its leadership’s ability to evolve and innovate so the brand stays relevant for years to come.
