(NEW YORK) Brian Atwood is about to get even bigger in the shoe realm, thanks to a newly-minted deal with Steven Madden Ltd. The mega mass shoe brand has partnered with Atwood to acquire the Brian Atwood intellectual property and assets in a series of business transactions with Bluestar Alliance LLC and The Jones Group, Inc. for an unknown figure. Atwood decided to buy back his brand from The Jones Group as speculation mounted that the company might sell his chaussure label.
The deal primarily concerns the lower-priced B Brian Atwood label; the designer will be chief creative officer and hold a minority stake in his pair-up with Madden. However, Atwood will retain creative and operational control of his eponymous, main designer women’s line.
In addition to its own labels, Steven Madden Ltd. also owns the intellectual property for the Betsey Johnson brand. But adding Brian Atwood to its portfolio will take the company into a whole new realm of luxury footwear; Atwood’s competitiors include the likes of Jimmy Choo, Nicholas Kirkwood, Manolo Blahnik, and Christian Louboutin. Atwood’s brand is currently a $20 million business, and Madden told WWD that he plans on tripling the business in its first year. The transition from The Jones Group, Inc. will begin with Spring 2015 deliveries.
