Bakers Footwear Enters Into Trademark Sale with Steve Madden
Los Angeles – Bakers Footwear Group, Inc. announced today that it has entered into a Trademark Sale and License Agreement with Steve Madden, Ltd. for its Wild Pair trademark and related trademarks.
The deal requires Steve Madden to purchase the Wild Pair trademark for up to $4 million and enter into a non-exclusive, non-transferable, royalty-free perpetual license for the trademarks with Bakers Footwear. The agreement also gives Bakers the right to continue selling Wild Pair footwear in its stores, online, and in Wild Pair retail shops. Bakers’ profits are estimated to be around $3.6 million.
“We are pleased to continue the growth of the Wild Pair brand with this transaction,” stated Bakers’ Chairman and Chief Executive Officer, Peter Edison. “Wild Pair, an iconic label known for its sexy, fashion footwear with a 39-year heritage and a highly-loyal following has tremendous potential and we believe Steve Madden is the best possible company to take advantage of the significant opportunity that exists to broaden the appeal and reach of the Wild Pair label,” Edison went on to say.
Edison also stated that Bakers is pleased with the structure of the transaction because it will give the company the freedom to expand on the Wild Pair brand. He elaborated by saying that with a great wholesaling partner like Steve Madden, Bakers will be able to capitalize on increased market share from current Wild Pair growth in its stores and website. The Wild Pair brand consists of brightly-colored stiletto and wedge-style high-heeled shoes, including many with animal prints and studs. The women’s shoes retail from $49.00-$139.00 per pair.
Edward Rosenfeld, Chairman and Chief Executive Officer for Steve Madden, said, “We are pleased to once again expand our diversified portfolio of brands with the addition of Wild Pair. We look forward to broadening the distribution and reach of the brand while maintaining the brand DNA that has made Wild Pair successful for almost 40 years.”
Steve Madden was named “Company of the Year” for 2006 at the Footwear News Achievement Awards in New York City.
Bakers Footwear Group, a St. Louis-based company, is a leading specialty retailer of fashion-forward footwear and accessories for style-driven women. The company’s footwear portfolio includes private label and national brand dress, sport, and casual shoes, boots and sandals. Bakers’ trendy merchandise is mainly marketed to women between the ages of 16 and 35.
Posted in: Trademark Infringement