Steve Madden Acquires Almost Famous

Steve Madden announced on Monday that it had completed its $52 million acquisition of apparel company Almost Famous. The company produces and markets several clothing lines, including the Almost Famous brand, a denim-driven label that retails at Walmart, Macy’s and Kohl’s, as well as private labels for retailers. It also served as the exclusive licensee of Steve Madden’s apparel label, Madden NYC, since its launch in 2022.

During the 12-month period that ended Sept. 30, Almost Famous’ revenue reached $163 million.

Learn more:

The Direct-to-Consumer Reckoning

For fashion start-ups, raising money and growing sales came easily. But with costs rising and profits elusive, securing a happy ending for investors is proving much harder.