Apparel Group, a leading international fashion conglomerate, will form a joint venture with America’s No. 1 contemporary fashion footwear brand, Steve Madden, to significantly expand Steve Madden’s footprint in the GCC, Africa, Egypt, Turkey, and CIS countries.
Apparel Group, known for leading fashion brands throughout the GCC and globally, is the preferred partner for some of the world’s most desirable fashion brands, with over 2010 stores in 14 countries and over 78 brands.
According to Mr. Neeraj Teckchandani, CEO of Apparel Group, the company’s philosophy has always been to be associated with the leading international brands with the vision to ensure, increase, and solidify their commercial status on a global scale.
“Continuing Apparel Group’s commitment to providing an elevated shopping experience to our loyal customers, we are proud to be partnering up with Steve Madden and further expanding our strong retail footprint in the GCC region,” the CEO remarked.
Mr. Ian Funk, President of International, Steven Madden, Ltd., commented that “since entering the GCC market over ten years ago, we have experienced significant growth in our business. Given the importance of this critical market for our consumer and brand, we are pleased to be entering into a joint venture agreement with best-in-class partners, Apparel Group, and look forward to continued growth in the region as we capitalise on our strong momentum.”
Both Apparel Group and Steve Madden are committed to developing a strong cultural identity for the joint venture, building on Apparel Group’s long-standing history of brands as well as its innovative quantitative approaches that have been core to their success. This new joint venture seeks to promote these strengths and bring in unique perspectives, expertise, and insights to better serve its customers.
Currently, Steve Madden has 11 stores in the UAE and 21 stores throughout the GCC region. To reinforce its commitment, Apparel Group plans to open 13 new Steve Madden stores in 2023. Over the next five years, Apparel Group aims to open 50 Steve Madden stores and launch an online platform (stevemadden.me) in the GCC to offer customers an omnichannel experience.