Solomon Lew will shut all 15 Steve Madden stores in Australia following a legal dispute between the retail veteran and the international division of the US-based designer footwear brand.
Lew has told the Supreme Court of Victoria he will close the local network as Lew Footwear Holdings seeks to tear up a licensing agreement between itself and Steve Madden Limited’s Hong Kong-based subsidiary, Madden International, reports The Australian.
Lew Footwear Holdings, part of the wider Lew Group, alleges Madden International misled the company by overcharging for shoes it was buying through a wholesale agreement in 2009.
Madden International is yet to file a formal defence, however, a lawyer for Madden International confirmed to The Australian the company would defend the claim.
“Madden will pursue its own claim against Lew Footwear in the appropriate forum,” a spokesperson said.