Why Steve Madden is Bullish on 2024

Welcome back to FN Daily, where we break down the biggest stories happening in footwear and retail.

Hot off the press from our first print issue of 2024, we have an exclusive interview with the leaders of Steve Madden and a powerful discussion about the future of DEI in the footwear industry. Plus, Nordstrom rolls out a shoe-focused campaign .

Here's what you need to know.

Inside Steve Madden: What’s Driving the $2B Firm’s Bullish 2024 Forecast

More than three decades after launching his namesake firm, Steve Madden is still a consummate product guy. Creating is what drives the founder — and it’s his biggest strength. That’s why Madden has long relied on his two loyal partners — chief executive officer Ed Rosenfeld and president Amelia Newton Varela — to execute the business vision.

At a time when industry turnover is rampant, this trio has been together for almost two decades — transforming the company from a single brand into a $2 billion powerhouse that also includes Dolce Vita, Betsey Johnson, Blondo, Greats and the licenses for Anne Klein footwear and handbags.

The leaders, united in their vision, have been working closely together to navigate a complex footwear climate . Reflecting on a particularly difficult 2023, Rosenfeld calls it a “once-in-a-generation dynamic,” particularly in wholesale. But amid broader industry recovery, the company is bullish about a brighter 2024.

Here , Madden and his team sit down for their first joint interview to discuss their unwavering dedication to the job, hybrid work and the road ahead.

Pensole’s Dr. D’Wayne Edwards and Merrell’s Janice Tennant Discuss the Path Forward for DEI in Footwear

Janice Tennant — who assumed the global brand president role at Merrell in June 2023 — recently came to the Pensole Lewis College of Business and Design in Detroit for a conversation with footwear design veteran Dr. D’Wayne Edwards.

With DEI at a critical crossroads, it’s an important moment to bring the leaders together . The stakes are high for the industry as uncertainty looms over the legality of corporate DEI programs amid a highly charged political environment. The aftermath of the Supreme Court’s controversial ruling to end affirmative action in higher education — coupled with widespread budget cuts that have some diversity programs on the chopping block — is creating what Edwards calls “chaos” in the near-term.

Read the full story to hear Tennant and Edwards get candid about the complexities of where we are now when it comes to DEI and the path forward .

Nordstrom’s ‘Make Room for Shoes’ Campaign Highlights On, Birkenstock, Sam Edelman, Larroudé & More

Nordstrom — which debuted as a shoe store in 1901 — is highlighting its footwear heritage by relaunching its “Make Room for Shoes” campaign.

According to Nordstrom’s executive vice president and general merchandise manager for shoes Tacey Powers, Make Room for Shoes will come to life through monthly partnerships with some of the industry’s best footwear brands and will feature a curated selection of new styles, exclusives, dedicated visual displays and shopping experiences. The year-long project will live in all Nordstrom stores and Nordstrom.com, Powers noted.

“Nordstrom has a passion and a commitment to shoes that dates back more than a century,” Powers told FN in an exclusive interview . “And so, Make Room for Shoes is a celebration of this passion and commitment to shoes. We believe the lineup we have for 2024 includes some of our very best brands with some of the very best stories out there in the market.”

To kick off the campaign, Nordstrom has teamed up with On on an initiative around its ‘Cloudspark’ running shoe that was designed by women for women. From now through March 3, Nordstrom will exclusively stock On’s new Cloudspark sneaker that will be featured alongside other products from the brand. To mark this partnership, the retailer will also host customer fun runs in select markets.

Sam Edelman, Birkenstock and Larroudé will round out Nordstrom’s Make Room for Shoes partners in the first half of the year.

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