STEVE MADDEN ACQUIRES SNEAKER BRAND GREATS

Steve Madden recently announced that it is acquiring Brooklyn-based sneaker brand Greats. The move is intended to further expand its already vast footwear offerings. Founded in 2014 by Jon Buscemi and Ryan Babenzien, the sneaker brand netted close to $13 million USD in sales this past year.

Notable Quotes: “We see significant opportunity to expand the business by combining Greats’ strengths—which include an outstanding brand and stylish, classic designs that appeal to today’s more casual consumer—with our proven business model, established infrastructure and global reach.” -Steve Madden’s Chairman and CEO Edward Rosenfeld

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