Steve Madden LTD. is on an acquisition spree, and planning on more deals ahead.
The footwear and accessories firm’s newest baby is Dolce Vita Holdings Inc., which it acquired for $60.3 million in cash, subject to a working capital adjustment and an earn-out provision based on future financial performance. The company is not disclosing the terms of the earn-out agreement, but they typically run from two to five years. The company is also projecting that the deal will be modestly accretive in fiscal 2015, but dilutive to earnings per share in fiscal 2014 by 2 cents to 3 cents.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"