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Steve Madden Ltd. yesterday announced the creation of Madden Direct, a subsidiary that will sell the Long Island City company's designer shoes directly to customers through the Internet and catalogs.
The new division will manage stevemadden.com, stevies.com, a new site geared toward the youth market, and any future operations.
Stevemadden.com has exceeded projections and sold more than $600,000 of merchandise in the quarter ended March 31. The Web site, which receives about 80,000 unique visitors per month, reported $1.2 million in revenues in 1999, an increase of nearly 700 percent from the previous year. Steve Madden Ltd. reported $163 million in 1999 sales.
Partners of Madden Direct include Shop@AOL and Nordstrom.com. Madden Direct will add a third unnamed partner with a "long history of shipping and handling large volume direct to customers,"...