Steve Madden China to be launched by C.Banner International
Integrated footwear retailer C.Banner International Holdings has formed a JV to open about 150 Steve Madden China outlets by the end of 2020.
Hong Kong-listed C.Banner’s wholly owned subsidiary Xuzhou C.banner Footwear has tied with Madden Asia Holding for the establishment of the JV, SM (Jiangsu), which will promote, market, distribute and sell Steve Madden footwear both online and offline in China.
The two companies have an equal shareholding in the JV, which has a trademark sublicense agreement to use the Madden trademark along with variations including Madden Girl and Steven by Steve Madden.
Designer Steve Madden created the company in his own name in 1990, and has expanded across Europe and the US. It also offers fashion accessories such as handbags, belts, jewellery, sunglasses and socks.
C.Banner International Holdings chairman Chen Yixi says the brand will target the mid-to-premium footwear market in China.