Dolce Vita Acquired by Steve Madden in a $60.3 Million Deal
Steve Madden has completed another acquisition. This top shoe retailer has said a few months back that it is searching for some potential acquisition. And by acquiring Dolce Vita it has proved the accuracy of the news that Steve Madden is on its way to acquire some brands.
On Thursday, Steve Madden reportedly announced that it has bought the Dolce Vita Holdings. This is the parent company of Dolce Vita, and it has been held privately. The Dolce Vita footwear lines include Dolce Vita, J.D. Fisk, DV8 and, DV by Dolce Vita. Dolce Vita footwear is one of the favourites of Urban Outfitters.
As per Steve Madden the deal has taken place for $60.3 Million. It is really a good amount. And the amount has been paid in cash. Interestingly, this deal is the second acquisition of the company Steven Madden in the past 6 months. This year is really seemed to be important for Steven Madden as the man is going fast and doing well in increasing his show retailing business.
To note, Steve Madden has purchased Brian Atwood in the last March. It has bought Brian Atwood from the company called Jones Group. It has been heard that the company has offloaded some of the brands that are underperforming to prepare its own sale to a company called Sycamore Partners.
However, comparing the two acquisitions it can be said that Dolce Vita will be proved more profitable than Brian Atwood. As Dolce Vita is known to target those consumer bases that are more or less similar to Steve Madden, it can be guessed that this acquisition may prove lucrative to the company of Steve Madden. However, products of Dolce Vita are known to be a little pricy like Dolce Vita shoes are available in the price range of $189 and $360 range. DV is retailed for $80 to $130. You will get DV8 in the price range of $30 and up.