Steven Madden Ltd. announced on Wednesday it has acquired through a subsidiary the assets of the Zone 88 and Shakedown Street lines for $1.3 million. Zone 88 and Shakedown Street are both part of SML Brands, a subsidiary of Aimee Lynn Inc.
SML Brands designs and markets private-label accessories for mid-tier retailers and mass merchants. Zone 88 is the manufacturer, wholesaler and marketing company for brands including Dover Kidz accessories for girls, Cool Zone lunch bags for kids, Paris Hilton handbags and Petit Sac bags, among others. Shakedown Street is a mass-market accessories brand under Zone 88.
The acquisition is expected to add $10 million to net sales for 2009, according to Ed Rosenfeld, chairman and CEO of Steven Madden.