Dive Brief:
- Karla Frieders, chief merchandising officer at Steve Madden, voluntarily resigned, effective June 30, according to a securities filing last week.
- Frieders’ resignation from the footwear company was for personal reasons, per the filing, and was “not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.”
- Steve Madden said in the filing that it doesn’t plan to appoint a successor at this time. Instead, other members of the company’s management will assume some of Frieders’ responsibilities.
Dive Insight:
Frieders spent more than 26 years at Steve Madden, beginning in 1999 as a buyer and merchandise manager, per her LinkedIn. Prior to spending nearly 10 years as chief merchandising officer, she spent almost three years as president of retail for the company.
In the same securities filing, Steve Madden announced that board member Robert Smith was resigning from his director position after more than 11 years. Smith’s exit is voluntary, per the filing, and he will leave “to pursue another opportunity,” effective July 14.
Following his departure, the company’s board will reduce its size from 11 members to 10, per the filing.
Steve Madden did not immediately respond to a request for comment regarding the departures.
In its first quarter, Steve Madden posted revenue of $552.4 million, representing a 0.2% increase year over year. Company CEO and Chairman Edward Rosenfeld said in the earnings release that the company faced “meaningful near-term headwinds and heightened uncertainty” as a result of the new tariffs imposed on imports into the United States.
The company previously said it planned to reduce its dependence on China sourcing, and in its Q1 earnings call, Rosenfeld told analysts that it had already managed to accelerate that shift and move production to other countries. As a result, Rosenfeld said, the company would reduce its U.S. imports from China from 71% in 2024 to the mid-teens by fall 2025 and down to the mid-teens by spring 2026.
Steve Madden also began “selectively raising prices to consumers and wholesale customers,” said Rosenfeld, adding that the company has taken “a surgical approach, raising prices by differing amounts and sometimes not at all, depending on the brand, product category and style.”
