Steven Madden Ltd. said it was approached by "third parties" who were interested in acquiring the company. The company did not name the firm or firms involved, but said it formed a board committee to evaluate "any potential transaction," Steven Madden Ltd. said in a statement Friday.

The company also said it hired Peter J. Solomon & Co. to be its financial adviser. Weil, Gotshal & Manges LLP was retained as its independent legal counsel.

The committee is "comprised of three independent directors," the company said, and includes board members Peter Migliorini, Richard P. Randall and Walter Yetnikoff. Yetnikoff will serve as chairman of the committee.

"The company does not expect to disclose further developments regarding the process until the review of strategic alternatives has been completed," Steven Madden Ltd. said in the statement.

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