How Steve Madden Is Helping One Family-Owned Company Grow in a Major Way

On a Friday afternoon in February, New York City was giving footwear retailers the kind of frigid winter temperatures they had been craving. But in the Schwartz & Benjamin Inc. showroom on 57th Street, industry veterans Steve Madden and Danny Schwartz weren’t talking seasonal boot sales. Instead, the pair discussed an NBA game from the night before and exchanged predictions for the rest of the season. It was just a few days after the proverbial stars aligned for Madden, who finally succeeded in snapping up Schwartz & Benjamin, the firm co-founded by Danny Schwartz’s grandfather 94 years ago. For several years, Madden’s company has been aggressively pursuing the family-owned company that specializes in licensed brands and private-label footwear. “Schwartz & Benjamin is one of the finest companies in the shoe business; they’ve always made great shoes — it’s just that simple,” Madden said of the firm, which produces footwear for Kate Spade, Rebecca Minkoff, Alice + Olivia and Avec Les Filles. “I’ve been approaching Danny for five years, but he rebuffed me every time.” Eight months ago, when he ran into Schwartz’s wife, Barbara, at a restaurant on Madison Avenue, Madden took one more shot at forg- ing a partnership. (Barbara Schwartz is chief

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