Today, Steve Madden Ltd is one of the biggest names in the footwear industry. Steve Madden is known for designing both classic and trendy styled shoes for reasonable prices.
It all began in 1990, with only $1,100 in his bank account, Madden began crafting shoe designs from his Queens -based factory. He produced 500 shoes, under his own name, and out of the trunk of his car he began selling his creations.
His hard work and determination paid off. By the mid-1990′s, Steve Madden shoes dominated the market of teenage girls footwear.
By 1997, Steve Madden had 59 million in sales and was expanding its line to include other accessories, when trouble in the form of the SEC, knocked on his door.
In 2002, Madden was convicted of stock manipulation, money laundering, and securities fraud. Madden was ordered to pay millions in restitution, serve a 41 months federal prison sentence, and was forced to resign as CEO of Steve Madden Ltd.(source)
While in prison, Madden maintained a $700,000 salary as design chief for his company. He was also treated for substance abuse and he fell in love with his director of operations, Wendy Ballew.
Madden was released from prison in 2005.
In 2006, Steve Madden Ltd, was named Company of the Year at the Footwear News Achievement Awards in New York City.
Today, Madden is back on his design game. His company has expanded their line to include other accessories: handbags, belts, hosiery, and even apparel. There is also, the expansion of Steve Madden stores into global markets and across America. He has formed partnerships between his company and celebrities, such as, the Olsen twins. He even, has Steve Madden Music, where he helps promote new artists with in-store performances and events.
Steve Madden also makes many guest appearances in his stores. Check out Steve Madden for more information on upcoming appearances and his line of footwear.
never thought a shoe designer could have such an interesting story line…
Steve Madden shoes are so comfortable and that’s a huge plus.