Steve Madden is one of America’s most successful footwear companies. The founder of the company Steve Madden himself is from Long Island, New York. The youngest of three children, Steve‘s father owned his own Textile Business. Since he was a child Steve has been troubled and he battled with drug and alcohol abuse up until his conviction in 2002. Steve worked in many retail stores when he was younger and found a love for shoes and the fashion industry at the age of 16. After graduating from high school, he attended the University of Miami for two years until his father refused to pay tuition due to Steve’s poor grades.
After leaving college, Steve worked for many retail companies learning the business. Steve and his friend collaborated to create a shoe business but found that it quickly became a failure. Soon after in 1990, using a line of credit to manufacture 500 pairs of shoes, Steve began his own company. With only $1,000 to his name at the time, Steve drove from store to store selling his shoes out of his trunk. Steve’s footwear career took off with his shoe the “Mary Lou” in 1990. By 1993 Steve opened his first store in Downtown New York City.
The Chief Executive Officer of Steve Madden was Steve himself until 2001 when he resigned to assume the role of Creative and Design Chief. The CEO is now Ed Rosenfeld. In 2001, Steve pleaded guilty to conspiracy to commit money laundering and securities fraud. Later in 2002, he was sentenced to 41 months in a federal prison. Steve Madden served 2 ? years and resumed his role as Creative and Design Chief in 2005 in his Long Island City, Queens branch. In 2006, Steve Madden Ltd won Company of the year, making this a huge accomplishment for the company and for Steve Madden himself.
Steve Madden has been selling footwear, accessories and handbags for 23 years now. The company’s main marketing objectives are to reach young and fashionable women by improving profitability of retail division, increasing shoe demand by 10% in three years, updating brand image to get the Steve Madden name on consumers’ minds, decreasing potential customers resistance to buying our product, leading to a 20% increase in sales in three years, strengthening relationships with customers, and leading to an increase in sales by 5%.
They sell their products through department stores, specialty stores, company owned retail stores and discount stores in the United States and Canada. Many of the stores their products can be found in are Macy’s, Nordstrom, Dillard’s, Lord & Taylor, Steve Madden stores, Steve, Steve Madden. com, DSW, Famous Footwear and Journeys. Steve Madden is continuously growing over the years and currently has 1,620 full time employees. The company has about 85 Steve Madden, Steven, Report stores and a website.
There are many footwear, accessory and handbag distributors in the industry but Steve Madden’s main competitors are Guess, Kenneth Cole Productions and Skechers USA. The company’s mission statement is “ To consistently deliver trend right designs to our customers. To further build our business, we will leverage our tremendous brand equity, dominant position in fashion-forward footwear, and industry-leading design team and will work to ensure that Steven Madden, Ltd. emerges as a global lifestyle branded company”. The first shoe I investigated was the TUDOR-C.
It is a beige color old oxford that laces up and is made of crotchet material. The company doesn’t offer any color other than beige. The price is $79. 95 and it is available in women sizes 5. 5-11. This shoe is close to a ballet shoe but has a classier look with springtime feel. The crotchet material has see threw areas and a nude lining in the front over the toe. The color is an off white – beige color but the company named it natural. All the materials used to make the shoe are man-made. They can be worn with or without socks for a dressy or casual look. These shoes will look great with jeans, shorts, capris, dresses or skirts.
The second shoe I investigated was the DYVINAL in camouflage. This is a close replica to a Christian louboutin shoe called the daffodile but with rhinestones galore! This is a shoe that has been trending for the last few seasons and looks like the red bottom shoes that celebrities like Kim Kardashian, Beyonce and Lala Anthony wear. It is a platform pump with a 6. 5inch heel. The camouflage pump is a black base color pump with black, baby blue, pink and yellow rhinestones covering it. The colors used do not resemble the usual brown and green colors you affiliate with camouflage.
When investigating this pump, I was thrown off by the fact that the company named this color camouflage because I would have never thought of that by looking at this particular shoe due to the colors. The platform in this pump is 2 inches and hidden, it also has a rounded toe. All the materials in this shoe from the sole to the lining are man-made. This shoe also comes in Pewter multi, Leopard Multi and Bright multi. The price is $149. 95 and is available in women sizes 5-10. This shoe is perfect to add edge and glitz to any simple outfit or to spice up an outfit for the nighttime.
There is no limit to when, where and how this shoe can be worn. The final shoe I investigated is the MASTRO in the color bright multi. This is a 4. 5inch heel stiletto. The bright multi pattern could be described as a splattered paint type of print. The colors on the shoe consist of lavender, pale pink, white, gray, baby blur and black. It is a sandal with two buckled straps and laces up in the back of the shoe. The first strap crosses over while the second strap fastens around the ankle. The shoe consists of all man made parts and costs $89. 95.
This shoe also comes in all black and runs from women’s size 5-10. This shoe caught my eye because it is definitely a style of shoe that a lot of celebrities like Rihanna, Beyonce and Jennifer Lopez have been wearing. The stiletto sandal is definitely one of the more popular shoe styles in the industry at the moment and this pattern is very flashy. This shoe can bring excitement to any outfit whether it is simple or glamorous. It is sexy, comfortable and a major trend for the upcoming season! Steve Madden products are mass-produced to be shipped to all of the company’s different distributors.
Steve Madden products are made through independent manufacturers throughout the world, including China, Brazil, Italy, Mexico, Spain, Portugal and the United States. The materials used in the manufacturing of products are available from a variety of sources worldwide. Steve Madden is a company in a highly competitive industry that must stay on top of shoe inventory, customer expectations and fashion trends. Steve Madden annual volume in 2012 was $ 1,227. 1 billion dollars. As a small but important part of the shoe store industry, Steve Madden continues to increase their annual revenue.
These actions are causing Steve Madden to continue to climb the ladder to becoming one of the top companies in the industry. With their global expansion and increased revenues Steve Madden is soon to sure make a bigger impact on the industry. Steve Madden offers a few different guarantees and has specific policies. The companies return policy states that all purchases are returnable within 30 days of purchase. Online purchases can be returned in USA stores except outlets, Colorado and Utah stores. Clearance and Earring purchased from online or in the store may not be returned or exchanged.
Steve Madden online does not do exchanges due to the high demand for their products and there can be guarantee that the item is in stock. All refunds will be returned in the original method of payment or store credit. Steve Madden merchandise purchased at retailers other than the Steve Madden store must be returned to the original retailer. The Steve Madden website also offers care and cleaning instructions for Leather, Suede and Patent Leather shoes. The company does not currently offer registries. When customers sign up for email online the receive 10% off their next order. Stevemadden. om offers a safe shopping guarantee. This means that is a customer’s card is stolen and used to purchase items from Stevemadden. com in the amount of $50 or less Steve Madden will cover the charge if the bank holds the customer liable. Stevemadden. com offers free shipping on orders over $75 and free in store returns. Steve Madden targets the “Generation Y” female ages 16-25 years old. These women are fashion conscious and want to be trendy for a reasonable price. This customer is looking for shoes much like the designs of Christian Louboutin and Jimmy Choo but at a fraction of the cost.
They generally are middle class and can start as teens with an income of 25,000+. Steve Madden looks to serve women who are ethically and racially diverse. Most women are single, young, and trendy. Their target customer chooses to buy a good value alternative to other high cost designers they cannot afford. When I walked into the Steve Madden store the ambience was very inviting and intriguing. I instantly felt upbeat, trendy, energized and excited all at once. The store currently is holding a sneak peak promotion where all merchandise is up to 30% off.
This sale also brought a sense of excitement, which compelled me to want to look around more. When first entering the store it is sectioned off into a men’s side and women’s side, clearly organized and creatively displayed. All of the new spring shoes were displayed at the front of the store and the winter shoes were towards the back. There were tables with amazing sandals showcase in the very front of the store and all the rest of the newest merchandise was neatly arranged on shelves against the right and left walls. Besides shoes the shelves were decorated with trendy Steve Madden bags that just arrived at the store.
There were two sales associates working, one was behind the register on the phone and the other was on the floor assisting customers. They allow customers to browse as they please and only assist them if needed. To some this may be offensive but I personally prefer this way to shop. The sales team seemed nice but then again I barely spoke to them because I was window-shopping. The music gave me energy and put me in a good mood. They play a lot of pop like “California Girl” by Katy Perry, “ Call Me Maybe” by Carly Rae Jepsen and Rihanna.
This store invites customers in and at the same times creates a happy atmosphere while calming you as you shop. I had a great time browsing and can’t wait to go back. Steve Madden is a well-known brand that has made its mark on the footwear industry for the last 23 years. Despite the trouble the founder of the company has had in previous years, consumers still admire their products. Their products are high quality and trendy at a great price. They deliver amazing customer service and often offer great promotions. Steve Madden will continue to dominate the industry and deliver fashion forward merchandize to its consumers.
In the footwear industry their prestige and revenue continue to grow annually, speaking wonders of how well Steve Madden will do in the future. Work Cited Care and Cleaning Instructions. ” Shop Steve Madden Shoes, Madden Girl & STEVEN by Steve Madden Shoes. N. p. , n. d. Web. 20 Mar. 2013. <http://www. stevemadden. com/contentDisplay. aspx? pageID=1618>. “Return Policy. ” Shop Steve Madden Shoes, Madden Girl & STEVEN by Steve Madden Shoes. N. p. , n. d. Web. 20 Mar. 2013. <http://www. stevemadden. com/contentDisplay. aspx? pageID=1023>. “Safe Shopping. Shop Steve Madden Shoes, Madden Girl & STEVEN by Steve Madden Shoes. N. p. , n. d. Web. 20 Mar. 2013. <http://www. stevemadden. com/contentDisplay. aspx? pageID=1540>. Abramson, Susan, and Marcie Stuchin. Shops & boutiques 2000: designer stores and brand imagery. Glen Cove, N. Y. : PBC International ;, 1999. Print. DUBE, KATHRYN. “Steve Madden Steps Out. ” ICSC – International Council of Shopping Centers. N. p. , n. d. Web. 20 Mar. 2013. <http://www. icsc. org/sct/current/sct9808/16. htm>. “STEVEN MADDEN LTD (SHOO:NASDAQ GS): Financial Statements – Businessweek. Investing & Stock Research by Company and Industry – Businessweek. N. p. , n. d. Web. 20 Mar. 2013. <http://investing. businessweek. com/research/stocks/financials/financials. asp? ticker=SHOO>. Schneider, Gary. “Chapter 4. ” Electronic Commerce. 8 ed. Boston: Cengage Learning, 2009. 183. Print. “Steve Madden Biography – life, childhood, name, story, school, mother, old, born, time, year – Newsmakers Cumulation. ” Encyclopedia of World Biography. N. p. , n. d. Web. 20 Mar. 2013. <http://www. notablebiographies. com/newsmakers2/2007-Li-Pr/Madden-Steve. html>. “Steve Madden ltd.. ” Hoovers. N. p. n. d. Web. 12 Mar. 2013. <libproxy. fitsuny. edu:2264/H/company360/industry. html? companyId=46258000000000>. “Steve Madden: Crisis of the Sole. ” New York Magazine — NYC Guide to Restaurants, Fashion, Nightlife, Shopping, Politics, Movies. N. p. , n. d. Web. 19 Mar. 2013. <http://nymag. com/nymetro/news/bizfinance/biz/features/4406/index2. html>. holston, laura. “Steve Madden Is Back – NYTimes. com. ” The New York Times – Breaking News, World News & Multimedia. N. p. , n. d. Web. 19 Mar. 2013. <http://www. nytimes. com/2013/02/14/fashion/steve-madden-is-back. html? pagewanted=all&_r=0>.