NEW YORK — Steve Madden has turned its attention toward women’s and men’s watches.
The accessory and footwear brand, based in Queens, N.Y., signed a licensing agreement with Vestal Group Inc. to produce and distribute watches under the Steve Madden and Steven by Steve Madden brand names.
The Madden watches will retail from $85 to $225 and are set to bow next spring at the company’s 99 boutiques, as well as at Nordstrom, Macy’s, Bloomingdale’s and Belk stores.
“We see the partnership with Steven Madden Ltd. as an opportunity to add style and true pop to the department store fashion watch business,” Rudy Theale, president of Vestal licensing, said in a statement.
Theale estimated the Madden watches could evolve into a $25 million business within five years. Vestal produces watches for L.A.M.B., Paul Frank and Rocawear.
Madden has also entered into a license agreement with the New York-based Mamiye Bros. to produce girls’ apparel under the brand name Stevies. The line will be sold exclusively at J.C. Penney stores starting for holiday.