July 8, 2009 (FinancialWire) — Steve Madden (NASDAQ: SHOO) a designer and marketer of footwear and accessories said it has completed its acquisition of substantially all of the assets constituting the Zone 88 and Shakedown Street lines of Aimee Lynn, Inc.’s SML Brands subsidiary.

The purchase price was $1.25 million, plus additional consideration for certain inventory. Madden said that a portion of the purchase price was paid by assumption of certain liabilities of the seller. The balance of the purchase price was funded with cash on hand.

SML Brands designs and markets primarily private label accessories, principally handbags, for mass merchants and mid-tier retailers.

Steve Madden CEO Edward Rosenfeld said that SML Brands “represents a great addition to our accessories business,” and that his company expects the acquisition to add around $10 million to net sales and to be slightly accretive to earnings per share in fiscal 2009.

Long Island City, New York-based Steve Madden’s shoes and accessories are sold through company-owned retail stores, department stores, apparel, footwear, and accessories specialty stores, and online.

The company has several licensees for its brands, including for outerwear, cold weather accessories, eyewear, hosiery, and bedding and bath products and owns and operates 92 retail stores, including its online store as of July 8.

Steve Madden is the licensee for footwear, handbags and belts for Fabulosity, for footwear for Elizabeth and James and l.e.i. and for handbags and belts for Betsey Johnson and Daisy Fuentes.

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