Steve Madden’s is a story of redemption. After being released from a Florida prison and serving two and a half years for securities fraud and stock manipulation in the early 2000s – having illegally traded shares from the initial public offering of Stratton Oakmont, the investment firm run by Jordan Belfort – Madden has devoted his life to his passion and purpose and the business he loves: Shoes. Madden, whose name has been at the center of women’s shoe design, is now making news by moving into men’s design. On August 1st Madden opened a big new store in Times Square, NYC, with nearly a third of its 2,000-square-foot floor space dedicated to his men’s shoes. Retail is not doing very well in Times Square – and Madden took a chance on the space: “I felt that men were getting shortchanged. We were putting all the excitement into women’s.”
And what does Madden see as the future of men’s shoes? “I would like to go into the sneaker business. I think everybody is wearing sneakers all the time. That’s something you’ll see in the future: more sneakers. I went out to a restaurant in Sag Harbor and it was all mostly 20- or 30-somethings. Why I was there, I don’t know. They were all wearing sneakers. They looked great! But it wasn’t for comfort; they just liked the look. It was interesting to see.”
I like to hear good news about Steve Madden. It warms my heart to see someone comeback after being knocked down!!