Steven Madden, Ltd. Announces New Sock Licensee for Its Steve Madden Brand
LONG ISLAND CITY, N.Y., May 28 /PRNewswire-FirstCall/ -- Steven Madden, Ltd. (Nasdaq: SHOO), a leading designer, wholesaler and marketer of fashion footwear for women, men and children, today announced that the Company signed a license agreement with Paul Lavitt Mills, Inc. to manufacture and distribute Steve Madden branded socks in the United States. The new line will include basic styles, fashion styles, novelty knee socks, boot socks and legwarmers. Select styles will be introduced in late Spring of this year. Jamieson Karson, Chief Executive Officer of Steven Madden, Ltd., stated, "We are pleased to be partnering with Paul Lavitt Mills, given their reputation for quality and excellence. Of particular note, they have significant experience manufacturing and marketing socks and hosiery for multiple fashion brands, including Etienne Aigner and Nicole Miller." Arthur Lavitt, President and Chief Executive Officer of Paul Lavitt Mills, Inc., commented, "We are excited to be working with Steven Madden, Ltd. and are committed to delivering innovative and trendy designs in legwear that will be specifically geared to the Steve Madden customer." Steven Madden, Ltd. designs and markets fashion-forward footwear for women, men and children. The shoes are sold through Steve Madden Retail Stores, Department Stores, Apparel and Footwear Specialty Stores, and on-line at www.stevemadden.com. The Company has several licenses for the Steve Madden & Stevies brands -- including outerwear, leather sportswear, eyewear, hosiery, handbags, and belts -- owns and operates two retail stores under its David Aaron brand, and is the licensee for l.e.i. Footwear. Paul Lavitt Mills, Inc. based in Hickory, North Carolina is a vertically integrated hosiery manufacturer of socks and legwear for the entire family. The company has the ability to supply products to meet both basic and fashion demands in today's hosiery market. Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties readers are urged to consider statements labeled with the terms "believes", "belief", "expects", "intends", "anticipates" or "plans" to be uncertain and forward-looking. The forward looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's reports and registration statements filed with the Securities and Exchange Commission.
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