Name: Steve Madden Tells Us His Advice for Shoe Domination
Uploaded: 2017-06-23
Duration: 4 min 45 s
Description: Watch Fortune’s full interview with the shoe mogul.

My name is Steve Madden, Steve Madden. [ MUSIC ] You know, I was very into the idea of creating a shoe and selling it. I thought that the selling was just as important Then there's the creating. I never thought that one was more important than the other. the design without the sale is meaningless to me. And the sale without a design is also meaningless. So if you ask me what was the secret to my success I would say it was that. One of the things my dad used to always say was nothing succeeds It's like success. [ MUSIC ] And he would also say the best revenge is living well. And those are two things that I still think about all the time. I got a lot of things from my dad. [ MUSIC ] My dad's thing was First things first. You know it was like you know the house the food the school. You know whatever it was had to be taken care of. You know and I got a real strong sense From him, from my parents and so I've taken that with me into business, there are certain [ UNKNOWN ] things in my company. I went to the University of Miami, I left after a year and a half, I dropped out. I went down to the beach a lot. And [ MUSIC ] took [ UNKNOWN ] and stuff like that. I think people go to college too young. I think they should be made to go to work for a couple of years. A lot of people wanna not go start at the bottom. I see that with kids. I'm like, work in a store, go work in a store for Six months really learn what it's all about. They don't wanna do that but I would urge them to do that. I would urge them to do that because it's invaluable piece. I didn't have a driver's license and I have a friend Worked in the building that I lived in, and he drove me around and I had shoes, and I sold shoes out of the car and delivered them. And from day one that's how I started the business. I started the business with $ 1, 100, one shoe Selling out of the back of my car [ LAUGH ] it seems improbable but it's true. Back in the day when the line was smaller I used to design and touch every shoe, we're so big today it's not possible. It's more collaborative today but still touching the shoes. But we make shoes that people want to buy. That is the company sort of ethos or mantra. Mantra. No but it really is. I make shoes that people wanna buy. That's what I'm all about. I built this company up and then I had to go away for a couple of Years. And so it was terrible. I got involved with childhood friends. The long and the short of it. They raised money from my company, and that's what happened. And it has colored everything that I do today frankly. It was a terrible experience. I would do a lot of things differently. It was a terrible experience. So. And I would choose my friends more wisely. I wouldn't take shortcuts myself. And I deeply regret some of the stuff. I regret it. I wish it didn't happen but it happened. It certainly has put me in touch with gratitude. I'm still trying to figure it out you know. I'm always giving advice to myself. You have to work with great people. That's the takeaway. You have to have a good team. We're very focused on our products. We're subject to the same slings and arrows. But we do well because we have a product that people want to buy. Very focused on that. There are many business accomplishments Options that I have not made. Many. Going in to other categories, being a force around the world, those are very important things to me. What we do is we really take great care and make great shoes. Great value. That's really what at the end of the day Everybody in my company was busy thinking about it. I'm very much in it now and it's very much still evolving. I don't know what's gonna be next. [ MUSIC ]

Watch Fortune’s full interview with the shoe mogul.