Steve Madden has acquired the footwear line Dolce Vita Holdings Inc.
The purchase was made for $60.3 million in cash.
The two companies have a long history starting from when Dolce Vita Holdings Inc. first came out in 2001. The company includes brands such as Dolce Vita, DV by Dolce Vita, Juniors’ line DV8 and men’s collection J.D. Fisk.
According to Women’s Wear Daily, co-founder of Dolce Vita, Van Lamprou said, “We were doing business early on, and we understand the synergies and getting product to the market as fast as we can.”
Madden owns many other brands such as Steve by Steve Madden, Freebird by Steven, Madden Girl, Betsey Johnson, Brian Atwood, Report, Report Signature, Big Buddha, Wild Pair, Cejon and Mad Love.
The two co-founders, Lamprou and Nick Lucio have been wanting to find another company to help grow their business, and they are hoping with this acquisition that can be achieved. They are confident that by working with Madden this can be achieved.
Chairman and CEO Ed Rosenfeld said, “We have built an organization that can support a [large] portfolio of brands.” The CEO is equally confident that with this purchase their brand will only grow as well.
