Steve Madden introduced on Monday that it had accomplished its $52 million acquisition of attire firm Virtually Well-known. The corporate produces and markets a number of clothes strains, together with the Virtually Well-known model, a denim-driven label that retails at Walmart, Macy’s and Kohl’s, in addition to non-public labels for retailers. It additionally served because the unique licensee of Steve Madden’s attire label, Madden NYC, since its launch in 2022.
In the course of the 12-month interval that ended Sept. 30, Virtually Well-known’ income reached $163 million.
Study extra:
The Direct-to-Consumer Reckoning
For trend start-ups, elevating cash and rising gross sales got here simply. However with prices rising and income elusive, securing a contented ending for buyers is proving a lot more durable.
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