Yahoo Finance Steve Madden eyes UK shoe store openings
Steve Madden, the US footwear tycoon, has said his eponymous brand will look to expand in the UK after it this week opened its first London shop in more than a decade.
Madden was in town yesterday ahead of a launch party at his new 1552 square feet store at the Westfield shopping centre in White City. British shoe company Kurt Geiger will run the shop for him.
Founder Madden said: “We will see how this store is received. But, if it goes well I would like to be investing in stores in possibly Oxford Street, Covent Garden, Manchester and Scotland.”
The entrepreneur, who started the business in New York in 1990 importing shoes he got made in east London’s Hackney, added: “I have always loved London, there is strong customer demand here, high footfall and we have found the right partner to operate the shop for us.”
His first UK store was on Broadwick Street in 2007 but it closed for reasons he said included not being the right location. Since then Steve Madden has been sold here online or within department stores.
In 2005 Madden was released from prison following a 31-month sentence for stock manipulation and securities fraud. His firm being made public in New York was famously depicted in the movie ‘The Wolf of Wall Street’.
Madden, who remained a shareholder, is today design chief. Edward Rosenfield is chief executive.
The company today has 382 stores worldwide and notched up 8.5% sales growth to $497.3 million (£386 million) in the third quarter.
