Latest news with #SteveMadden
Yahoo
a day ago
- Entertainment
- Yahoo
Steve Madden's Sweet Spot: Dress Shoes, ‘Dupe Culture' and TikTok Fame
On the heels of its namesake's viral podcast, Steve Madden Ltd. is getting a lot of attention these days — from TikTok to Wall Street. As fashion trends finally shift back to the dressier side, Steve Madden is in the sweet spot. More from WWD Ahlgrens Bilar's TikTok-famous Swedish Candy Inspires Streetwear-ready Bucktron Sneaker Beyoncé Knowles-Carter Channels Lady Liberty With Gold Amina Muaddi Pumps and Balmain Gown on 'Cowboy Carter' Tour Tina Knowles Supports Julez Smith From the Front Row in Leather Boots and Sheer Bodysuit at Bluemarble Show in Paris Dress shoes. Check. Western boots and influence from Beyoncé's Cowboy Carter Tour. Check check. 'Trends, especially in women's dress shoes and western boots are starting to move Steve Madden's way,' said to Williams Trading analyst Sam Poser, who upgraded shares of the company's stock from 'hold' to 'buy. He added, 'It appears as if women looked in their closets, [and] realized they had no new dress shoes.' Poser cited Madden's 'compelling new platform and kitten heel dress shoes' that have a strong price/value relationship. The new dress shoes could be a boost to the top and bottom lines, as the styles' retail price points are '30 percent to 70 percent above most of fashion sneakers' that were strong sellers for the brand over the past couple of years. Telsey Advisory Group's (TAG) chief investment officer Dana Telsey has shares of Madden rated at 'market perform,' the equivalent of a neutral rating. She attended the company's product presentation during FFANY this month, and also noted the pick up in dress shoes and slowdown in sneakers, which she said can be a 'beneficial shift' for the brand. Other product trends for the back half of the year include Madden 'leaning into Western influences and textures inspired by Beyoncé's Cowboy Carter aesthetic, incorporating elements such as fringe and rustic hardware,' according to Telsey. She noted that the brand continues to innovate within the dress shoe and sandal categories, with new silhouettes that feature the durable natural fiber raffia, snakeskin, crochet and jelly materials. 'An overall more seasonless offering is being created, with respect to boots and booties, as [Madden] intends to bring more unique styles to market that will work year-round,' Telsey said. 'These fashion-led product and design decisions reflect the company's broader goal, which is to stay ahead of trend curves while maintaining broad consumer appeal.' In a 2024 interview, Madden told FN that his approach to product has always been the same. 'We just try to make cool shoes and that's it. We let the chips fall where they may. People put us into little slots. But the shoes are quite universal,' he said. While the company's first quarter earnings missed Wall Street's sales expectations, it did easily beat the consensus of adjusted diluted earnings per share of 46 cents, coming in at 60 cents for the quarter. For the three months ended March 31, net income fell 8 percent to $40.4 million, or 57 cents a diluted share, on net sales that inched up just 0.1 percent to $551.4 million. Wall Street was expecting revenue of $556.3 million. Madden has already included some price increases on some products. Company chairman and CEO Edward Rosenfeld said in the company's fourth quarter earnings conference call in February that Madden planned to cut the percentage of goods produced in China. One surprise in the first quarter earnings report was how incredibly fast the company moved to limit the potential impact of tariffs on imports from China, shifting anything early in the production process that was capable of being moved elsewhere. That shift did not include the company's sourcing for the $360 million Kurt Geiger acquisition, which was completed one day before the earnings call on May 7. 'The stuff that was far along in the production process or done, we are taking the majority of that in, but we have worked with our factory partners and suppliers to negotiate price concessions on those goods, so we can at least mitigate some of the damage in the near-term, and again, keep those goods flowing and make sure we're still delivering fashion to our customers and consumers,' Rosenfeld told investors last month. He said components in China were moved to other countries, adding that fall production in China for brands such as Steve Madden shoes or Dolce Vita shoes will be 'going to virtually nothing.' Some production in China, such as value-price apparel, will be less than 5 percent, which is taking longer to move. Rosenfeld said at the time that certain wholesale customers were thinking more conservatively for their fall plans as they face consumer uncertainty over higher price points due to tariffs. Since the earnings call, Madden the brand has been garnering a pop of attention following company founder and creative and design chief Steve Madden's May 21 interview on the fashion podcast 'The Cutting Room Floor,' after short clips surfaced on TikTok. On the day of the interview, shares of Madden closed at $24.69, and rose as high as $26.57 on June 9 in intra-day trading. (The shares on Thursday closed at $24.14.) The no-holds-barred interview saw the brand founder criticize American President Donald Trump's tariff policy, and how China tariffs will raise prices on shoes. Madden was asked about his brand's propensity for knocking off designer looks, and he was unapologetic about the knockoffs. One example he was shown was a Steve Madden shoe featuring an 'H' bridge reminiscent of the Hermès Oran sandal, a look that the design chief said, 'Obviously we know who it is. This is one of the greatest shoes in the world. We changed it a little bit.' He also spoke candidly about his time in prison following a guilty plea on charges involving securities fraud and money laundering. 'This free media followed Beyoncé making appearances earlier this spring completing her 'denim on denim on denim' look sporting Steve Madden jean boots,' TAG's Telsey noted. So far, the podcast clips have received over 24 million views, Poser said this week. According to the analyst, the increased attention around the brand as well as its new styles could have Macy's, Bloomingdale's, Nordstrom, Dillard's and DSW and other key retailers 'aggressively knocking the door to get more Steve Madden shoes, as they receive more requests from their customers.' The analyst said consumer requests 'should put' Madden in the driver's seat with it comes to establishing terms with its wholesale partners, which could result in a gross margin improvement for the brand. BTIG analyst Janine Stichter said Madden is 'well-positioned,' given its ability to democratize luxury footwear trends. Helping it is the growth of 'dupe culture,' a reflection she said of the 'increasing demand for mid-tier products that offer strong value propositions following large post-COVID price increases from luxury players.' Stichter added that younger generations have a more supportive view of dupe culture. The big unknown is whether the pop in interest in the Steven Madden brand has staying power or if it's just a one-off viral moment. 'I think the key with this is just his authentic voice and how truly comfortable he is talking about himself and his life. And I really think in the culture today, that resonates so much for people. There's so much fake around us that a true voice becomes a really relatable thing,' said Jaqui Lividini, founder and CEO of brand strategy firm Lividini & Co. She said that these viral moments are 'very hard to duplicate and very hard to manufacture,' and that when they catch on, it becomes magical. As for Steve Madden the company founder, 'he's opened himself to a new audience, so I think that's the win here,' Lividini said. Another brand strategist, who requested anonymity, said, 'The bigger message here is that Steve is being listened to. He's being introduced to a new generation, a new consumer that didn't know him.' While that could bring in a whole new customer base for the brand, this strategy expert cautioned that just as the shorter clips popped and became a runaway train, tomorrow could usher in the next big thing, taking potential customer base into a whole new direction. Best of WWD All the Retailers That Nike Left and Then Went Back Mikey Madison's Elegant Red Carpet Shoe Style [PHOTOS] Julia Fox's Sleekest and Boldest Shoe Looks Over the Years [Photos]
Yahoo
a day ago
- Business
- Yahoo
Legal Questions Surface Over Walmart's Hoka Dupe
Dupe culture's the trend, and there may not be much that brands can do about it. The latest example is a pair of Avia shoes that sold out on Walmart. Some shoppers say the style is a Hoka dupe. One reviewer named Ashley said her daughter's podiatrist recommended the Hoka brand, but noted that 'they are a bit pricey for an elementary age child. I saw these are considered DUPES and when I got them I was so impressed.' More from WWD Do Crocs Shrink in Heat? The Issue Is at the Center of a New Lawsuit Shoe Executive Richard Kirschenbaum and G-III Trade Legal Barbs EY Report Urges Retail Firms to Reclaim Their Relevance Another named Jackie wrote: 'This line of Avia shoes are inexpensive copy cats of Hoka shoes, which I cannot afford. Not only were these shoes on clearance, they are similar in fit and comfort to Hoka but for only $8.24 on clearance.' Bridget said she's an avid Skechers buyer, but tried the Avia shoe because the 'clearance price made it worth the gamble.' Still, all the reviews weren't positive. Another reviewer, KCShopper, wrote about the excitement of purchasing shoes for $12, but wore the shoes only once because 'both heels were bleeding with the worst blisters.' While top-tier footwear brands have long been subject to knockoffs, the so-called dupe trend has put the issue in the spotlight. Last year, Walmart sold a 'Birkin' handbag dupe called the 'Wirkin' for $60 that went viral on TikTok and sold out. And shoe designer Steve Madden, whose firm has been around since 1990, remains unapologetic about his brand's propensity for knocking off designer looks. So what can brands do about the latest duping craze? 'Dupes of this sort are typically legal so long as they are not infringing on the trademark, or logo/branding of the shoe,' observed Mark Brutzkus, partner and chair of the consumer products practice at the law firm Stubbs Alderton & Markiles. 'If Hoka does have a trademark, they will have to prove that Walmart's Avia shoe or its packaging has caused reasonable consumer confusion.' Brutzkus did raise one potential legal claim. 'What is most likely to be at play is the issue of trade dress, which focuses on the acquired distinctiveness of the shoe design as opposed to its functionality,' he said. But Hoka would have to prove that stitching, silhouette, and other nonfunctional features are associated with their branding by customers and cause confusion when imitated, he explained. 'As these cases can be difficult and expensive to prove, a settlement is far more likely in any case,' the attorney concluded. Hoka brand executives did not provide a comment by press time. BTIG retail analyst Janine Stichter said earlier this month in a note to clients that 'dupe culture continues to grow.' Luxury bag dupe posts on social media in April grew by nearly 10 times versus earlier in the year, with Louis Vuitton and Hermès the two most mention handbag brand mention in connection to dupes. 'The growth in dupe culture reflects the increasing demand for mid-tier products that offer strong value propositions following large post-COVID price increases from luxury players. This is particularly true for younger generations, which have a more supportive view of dupe culture,' Stichter wrote. Jaqui Lividini, founder and CEO of brand strategy firm Lividini & Co., said the growth in dupe culture 'speaks to an economic reality that not everyone can afford to buy into a product that is at a certain level of expense and iconology.' However, the knockoffs allow consumers to participate in that trend and people embrace that, she said, adding that the dupes are 'just a more fun expression of these iconic things…. I don't really think it takes away from the original,' Lividini said, noting that the dupe iconifies the 'original even more.' One Wall Street observer said anyone buying a dupe knows that he or she is not buying the authentic item from the brand. This person doesn't see these sales taking away from the brand because anyone willing to spend the money for the original branded version, such as a true Hoka shoe, is buying more for comfort and quality and not necessarily for its looks. A study from authentication firm Entrupy Inc. on the 'State of the Fake' concluded that the line between a dupe and fake is blurry, making enforcement both murky and uneven. According to the report, the most 'faked brand' overall in sneakers is Alexander McQueen. In Great Britain, it is a Dior sneaker, while in Netherlands, it is New Balance. And in Germany, Adidas is the most copied sneaker brand. It also said that fabrication has moved beyond logo placement and sole shape, and that there's been refinement at 'every level of construction.' The Entrupy report also noted the rise in what it calls 'rep culture,' a high-quality, intentional fake sneaker designed to closely imitate the original release. It also noted how across TikTok and YouTube there were detailed guides last year telling one how to 'upgrade' reps by swapping insoles and other modifications, a 'subculture of normalizing rep customization as a kind of sneaker DIY.' Most recently, Nike Inc. fought back, and its settlement with Shoe Surgeon has set some boundaries on sneaker customization. Best of WWD All the Retailers That Nike Left and Then Went Back Mikey Madison's Elegant Red Carpet Shoe Style [PHOTOS] Julia Fox's Sleekest and Boldest Shoe Looks Over the Years [Photos]
Cosmopolitan
2 days ago
- Entertainment
- Cosmopolitan
DSW's Semi-Annual Shoe Sale Is FINALLY Here
Hand on the bible my perfectly curated TikTok FYP, I don't shop every sale that comes across my desk. A girl's gotta have some self control when her entire job is tracking down celebrity styles and serving the tea on Amazon's hottest deals—at least while we're maybe, probably, definitely heading towards a recession. But (you knew it was coming) that doesn't mean I'm perfect. Sometimes I slip check off my entire summer shoe wishlist in one sitting! I'm calling it efficiency, not impulsivity. After all, my latest haul will carry me straight through to Labor Day sales—so, if you really think about it, this actually means I just saved money. Girl math! ICYMI, DSW's Semi-Annual Sale just dropped and it's packed with hidden gems—if the digital receipt in my inbox has anything to say about it. Now through July 9, you (and me!)(clearly!) can save up to 65% on the entireeeee clearance section. Promo code LASTCHANCE will even get ya an extra 10% off select styles. Now, let's unpack a few of my fave finds because, besties, I've got a lot! Since I, tragically, never got my hands on the coveted Adidas x Wales Bonner collab, I snapped up this lookalike style from Steve Madden in a heartbeat. Are you impressed? I'm impressed. They're a dead ringer, and "comfy right out of the box," per shoppers. I also stocked up on wedding guest shoes for the one billion (I swear that number is accurate) nuptials I've already got on the books for this year. I just know these platforms will let me comfortably electric slide and Dolce Vita's heeled sandal def has enough traction so I can successfully catch the bouquet. Always the bridesmaid, never the bride??? Not for long, suckers! Plus, these slides—that look a lot like a designer style that starts with an H and ends with ermès—will undoubtedly be my go-to until it's no longer seasonally acceptable to show toes. I mean, hey, if anything I'm just helping the economy! My DSW haul was a public service! Send all thanks and gratitude to my Venmo, xoxo. Megan Schaltegger is an NYC-based writer. She loves strong coffee, eating her way through the Manhattan food scene, and her dog, Murray. She promises not to talk about herself in third person IRL.
Elle
2 days ago
- Entertainment
- Elle
Here's Your First Look at Nordstrom's Biggest Sale of the Year
Every item on this page was chosen by an ELLE editor. We may earn commission on some of the items you choose to buy. Any shopper worth her weight in salt knows that Nordstrom's Anniversary Sale is one of the few can't-miss retail events of the year. And as of today, you can officially start building your wishlist based on the sale's preview page. Although the sale doesn't actually open to the public until July 12, Nordstrom is sharing just enough to keep us tantalized. This year's sale is said to be bigger and better than ever, featuring more than 65 brands that have never before been part of the markdowns. The Anniversary Sale is one of the only times you can snag new arrivals at a discount, and the sale only lasts until August 3. Depending on loyalty status, Nordy Club cardholders can get early access starting on July 8. Expect to save up to 50 percent on top brands, customer favorites, and bestsellers spanning fashion, beauty, and home. Bookmark this page and come back for the best items to shop from the Anniversary Sale, and for now, scroll on to see the best finds from the retailer's current sale section. Clothes Summer clothes are my favorite kind to shop for, and some of my favorite brands are set to be included in the Anniversary Sale, including Free People and Veronica Beard. Plus, for all your sundress needs—wedding guest or otherwise—don't miss these gems from Carolina Herrera, Farm Rio, Madewell, and more. Shoes How am I supposed to pick just one 'shoe of the summer'? And better yet, why should I? Everyone knows two new pairs of shoes are better than one. From these sweet gingham mules to the made-for-walking Hoka sneakers, you're sure to find whatever you need. From Steve Madden to Stuart Weitzman and Birkenstocks to Bombas socks (nice rhyme, right?), this is where to find the hottest deals in town. Accessories Your wardrobe is only as good as your accessory collection—I live by these words. Whether you need a new work bag or are eyeing a funky charm necklace, there are treasures untold for those who scavenge through these sale pages. Current favorites include one of this summer's hottest accessories: anklets, and lab-grown diamonds at incredible prices. Come July 12, be on the lookout for highly coveted brands like Lizzie Fortunato, Coach, Jenny Bird, Ray-Ban, and Quay. Why Trust ELLE Every product featured on is independently researched, tested, or editor-approved. We only recommend products that we stand behind, and the merchandise featured on our site is always driven by editorial and product testing standards, not by affiliate deals or advertising relationships. Any content created in partnership with advertisers is marked as such.
Daily Mail
2 days ago
- Business
- Daily Mail
Steve Madden rival, Freebird, shuts 14 stores amid retail crisis
A much-loved footwear chain has shuttered the majority of its stores as it teeters on the edge of bankruptcy. Freebird, founded in Denver in 2009, rose to prominence selling a range of boots and other niche footwear. However, the brand -once a rival of major brands such as Steve Madden - has fallen on tough times and has now shuttered 14 of its 20 locations. The retailer has blamed the rising cost of staff wages, dips in consumer spending and supply chain issues made worse by Trump's recent tariffs. The company's woes were laid bare last month when KeyBank sued in an attempt to recoup some of the $15.4 million they claim Freebird owes the bank, The Sun reported. A court ordered financial firm Ampleo to take control of the company and instigate turnaround efforts. Ampleo consultant Doug Charboneau soon told the court that Freebird was in a 'severe liquidity crisis.' On top of its KeyBank debt the footwear maker also owes $6 million to the Mexico-based manufacturer that supplies 85 percent of its products. However, this supplier has now ceased operations, according to the publication. Ampleo said it is in negotiation with two companies interested in buying Freebird. However, if a deal is not forthcoming then it will close four more of its remaining stores. This would leave Freebirds at risk of a bankruptcy filing and full liquidation. As the chain's future looks uncertain shoppers may be able to pick up sale bargains as it tries to shift its inventory. All sales in store and online are now final, and returns will not be accepted. It comes just weeks after another popular shoe chain filed for bankruptcy as in-person store's continue to struggle in a tough retail landscape. Soleply, known for its high-end brands like Kanye West's Yeezy, filed for Chapter 11 bankruptcy in New Jersey back in March. Soleply - which also sells t-shirts, sweatshirts, jackets and hoodies - has up to $10 million in debts, according to court filings. The premier sneaker retailer currently has six locations across Delaware, Connecticut, Maryland, Rhode Island, New Jersey and Pennsylvania. Major footwear brands are also struggling with Nike recently reporting a shocking sales collapse. Nike's sales dropped 9 percent in the first quarter of the year, a staggering $1.16 billion drop.
