In their second acquisition in one week, Steven Madden Ltd. will now make cold-weather accessories, fashion scarves, wraps and other accessories. The New York-based footwear and accessories company confirmed it had bought privately held Cejon Inc. last week in a $30 million deal.
“The acquisition of Cejon enables us to further strengthen and expand our accessories platform. It’s a great complement to our existing accessories business, which is primarily focused on handbags and belts,” Edward Rosenfeld, chairman and CEO of Steven Madden, said in a statement.
The firm, founded in 1991, has been a licensee of Steve Madden for cold-weather and other fashion accessories since September 2006. It distributed to department stores, national chains, mass merchants and specialty stores and now—is licensed property of Steve Madden Ltd. Let’s hope they use this newfound power for good and not evil…..
Article Source: WWD
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