Steve Madden was born in Far Rockaway, Queens ,USA in 1958 to a Jewish mother and Irish Catholic father .He is 64 years old and he grew up in the Lawrence neighborhood and graduated from the local high school in Nassau County, New York . After high school, Madden attended the University of Miami for two years before returning to Long Island. His hight is 1,69 and his weight is 80 kg.
It all started when Steve Madden, a 16-year-old at the time, was working at a shoe store called Toulouse in Cedarhurst, New York. His cool 26-year-old boss who ran his own business and drove a Mercedes, was the main turning point that would drive him to have this entrepreneurial vision about entering the fashion industry.Nothing was easy, in the early 1990s, Madden founded his company producing 500 pairs of shoes in a modest workshop in Queens. His first design was a pointed Sweden called “Marilyn” , which became popular in the Big Apple while Steve was selling out of the trunk of his car.
His keen flair for business and fashion trends combined with his rock n’ roll-tinged New York roots formed the essence of the firm’s legacy. Designs like boots au courrant , platform Slinkys, and Mary Lous were dominant efforts in the market for affordable footwear synonymous with style.Three years later, Steve Madden opened his first flagship in the popular and hip neighborhood of SoHo, after having achieved such success with his first collection where platforms, strong colors and animal prints stood out.
During this boom of the brand, it was the introduction to a whole generation of the iconic platform shoe that marked the hearts of all the girls.
Eventually more shoe models were setting trends as the years went by, like the Bubba sneakers , which any girl who adored the Spice Girls was dying to have; the Troopa boots or the Stecy to wear not only on a date and that marked this sexy and girly aesthetic a la Cher Horowitz in Clueless .Eventually more shoe models were setting trends as the years went by, like the Bubba sneakers , which any girl who adored the Spice Girls was dying to have; the Troopa boots or the Stecy to wear not only on a date and that marked this sexy and girly.
On the other hand, Steve not only smitten us with the Slinkys, but also complemented that love for fashion with a line of bags and accessories to integrate an authentic and irreverent lifestyle like that of any Steve Madden girl .Today, Steve continues as Head of Design for the brand. He finds inspiration in sex appeal , urban and rock & roll. When he designs a pair of shoes that he believes will be the hit, he experiences the same feeling as a musician or artist feels when producing one of his next music records.
This relationship between design and music for the businessman was so important that he ventured with Steve Madden Music , a platform for emerging musicians, in which artists such as The Kills , Marian Hill , Ellie Goulding, Iggy Azalea, Santigold, Tove Lo , GRIMES , Katy Perry and Lady Gaga (who are also lovers of their creations). And this love for music also led him to create his own record label 5 Towns Records last year.
For more than two decades, Steve Madden has always offered us trendy shoes , with that forever-teen vibe and ultra-feminine. Mainly, we have seen the girl power of the brand reflected in different collections such as that of Kendall and Kylie with very girly shoe models ; or in the daring prints full of vibrant colors proposed by the collection of the R&B singer Keyshia Cole ; electric tones on a pair of sneakers to the music of Iggy Azalea , and even bloggers Peace Love Shea and The Blonde Salad collaborated with Steve Madden before they were as famous as they are now.
The result has been a total success over the years making Steve Madden one of the most amazing success stories in the fashion industry of the nineties to date. In addition, Steve has been a crucial icon connecting design trends in footwear for young girls since the 90s . Steve Madden provides us with everything from a couple of platforms to go out dancing at any time of the day, for any place, to a footwear more ad hoc to the day-to-day routine but giving us that unique and individual touch that the firm celebrates.
Scandals aside, Maddman is more than just a shoe or fashion documentary. It is a story of personal struggle, ambition and revenge. The one that Steve Madden was looking for since he was characterized as “a nerd” in The Wolf of Wall Street. But above all it is a reflection that he continues to be passionate about shoes, that for almost three decades he has been walking with his eyes fixed on the feet of those who pass him on the street. A passion that has been key to his success and also to his downfall; which has made him an ex-addict and ex-convict who owns a big company. A job that he now combines with his participation in a program that helps ex-convicts find work. He himself has hired one of his cellmates in his company. “I met great people in prison,” he clarifies, “I believe in second chances.”
Awards and honors:
- Footwear News Person of the Year Award (December 2011)
- NASDAQ honors Steve Madden and his 20th anniversary (June 2010)
- Two Ten Foundation Honra a Steve Madden (junio de 2010)
Steve Madden net worth
Steve Madden, who is the founder of the $2.6 billion company, has an estimated net worth of $400 million as of May 2021. Most of Steve’s net worth has been earned as a as former president of the company. Currently, he is the head of design for the company, which was also listed as one of the fastest growing companies by Forbes in 2015.
In 2017, his company had net sales of $1.6 billion. Net profit rose 7% and was recorded at $129 million.Steve Madden lived his dream of owning a successful shoe empire. Despite financial and legal difficulties at the beginning of his activity, he did not lose his zeal to design shoes and sell them. Still going strong at an age when many think of retiring, Steve Madden is an inspiration to many young entrepreneurs.
The company of Steve Madden has experienced double-digit year-over-year revenue growth for the past five quarters. During this period, the company recorded an average growth of 45.8%, with the largest increase occurring in the last quarter, when revenues increased by 73.7% compared to the year-ago quarter.
The company has now seen its bottom line increase for three consecutive quarters. In the third quarter, net profit increased by 39.3% and in the second quarter, the figure increased by 20.1%.
The company has now exceeded analyst estimates for the past four quarters. It broke the mark by 4 cents in the third quarter, 2 cents in the second quarter and 3 cents in the first quarter
Madden married Wendy Ballew, his former COO, in 2005 after he was released from prison. The couple have three children, twins Jack and Stevie Madden, and Goldie Ryan Madden. The couple divorced in 2015.
Madden admits to abusing alcohol and various drugs, and later attended court-ordered rehab.
Madden’s financial affairs become closely entangled with Long Island ” pump and dump ” brokerage house Stratton Oakmont , co-founded by Madden’s childhood friend Danny Porush , who first lent him money to expand his fledgling company, and later endorsed his offer initial public .
In June 2000, a class action lawsuit was filed against Madden for issuing materially false and misleading statements during the class period. A $9 million settlement was reached in 2004. In 2001, the SEC filed charges against Madden in New York State Federal Court, alleging SEC violations. Because the violations were not criminal in nature, the SEC sought to recover $1,637,000 in a combination of illegally avoided losses, interest, and a civil penalty.
In 2002, Madden was convicted of stock manipulation , money laundering, and securities fraud . He was sentenced to 41 months in prison and forced to resign as CEO of Steven Madden, Ltd. and from the board of directors. Shortly after stepping down as CEO, Madden established himself as a creative consultant at Steven Madden, Ltd., a position for which he earned $700,000 even while he was in prison.
Madden served time at the federal prison camp, Eglin , at Eglin Air Force Base , and later at the Coleman Federal Correctional Complex , near Ocala, Florida . Madden was released from prison in April 2005. He then attended a New York City halfway house. Madden’s attorney, Joel Winograd, said that Madden would stay in the house for 60 days. After his release from halfway house, he was restricted to home confinement for a period.Since Madden was released from prison in 2005, the company has quickly recovered, increasing revenue by almost $100 million in 2006 to $475.1 million. That same year, Steven Madden, Ltd. was named “Company of the Year” for the second time at the Footwear News Achievement Awards.
With Madden currently serving as founder and chief designer, the company continues to show year-over-year growth and reports $1.65 billion in revenue for fiscal 2018.
Madden contributed to The Doe Fund, a charity dedicated to working on the causes of homelessness, addiction, and criminal recidivism.