Exhibit 99.1



STEVEN MADDEN, LTD. ANNOUNCES STRATEGIC REVIEW

LONG ISLAND CITY, N.Y., October 18, 2007/PRNewswire-FirstCall/ -- Steven Madden,
Ltd. (Nasdaq: SHOO), a leading designer and marketer of fashion footwear and
accessories for women, men and children, today announced that it has received
inquiries from third parties with respect to an acquisition of the Company and
shareholder communications urging that the Company explore alternatives to
enhance shareholder value. The Board of Directors has determined to evaluate
strategic alternatives available to the Company and, to this end, has formed a
Strategic Review Committee of the Board comprised of three independent
directors, Peter Migliorini, Richard P. Randall and Walter Yetnikoff, with Mr.
Yetnikoff serving as Chairman. The Committee has been charged, among other
things, with the responsibility for evaluating any potential transaction, with
any transaction recommended by the Committee to be considered by the full Board
of Directors. The Strategic Review Committee has retained Peter J. Solomon &
Company, which has previously provided consulting services to the Company, as
its financial advisor, and Weil, Gotshal & Manges LLP as its independent legal
counsel. There can be no assurance that this process will result in any changes
to the Company's current plans. The Company does not expect to disclose further
developments regarding the process until the review of strategic alternatives
has been completed.

Steven Madden, Ltd. designs and markets fashion-forward footwear and accessories
for women, men and children. The shoes and accessories are sold through
company-owned retail stores, department stores, apparel and footwear specialty
stores, and online at www.stevemadden.com. The Company has several licenses for
its brands, including dresses, outerwear, cold weather accessories, eyewear, and
girls apparel and owns and operates 100 retail stores, including its online
store. Through its wholly-owned subsidiary, Daniel M. Friedman & Associates, the
Company is the licensee for Betsey Johnson handbags and belts, Ellen Tracy
belts, and Tracy Reese handbags and belts.

Statements in this press release that are not statements of historical or
current fact constitute "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such forward-looking
statements involve known and unknown risks, uncertainties and other unknown
factors that could cause the actual results of the Company to be materially
different from the historical results or from any future results expressed or
implied by such forward-looking statements. In addition to statements which
explicitly describe such risks and uncertainties, readers are urged to consider
statements labeled with the terms "believes", "belief", "expects", "intends",
"anticipates" or "plans" to be uncertain and forward-looking. The forward
looking statements contained herein are also subject generally to other risks
and uncertainties that are described from time to time in the Company's reports
and registration statements filed with the Securities and Exchange Commission.
Except as required by law, we expressly disclaim any intent or obligation to
update any forward-looking statements.


SOURCE: Steven Madden, Ltd.
CONTACT: Company, Ed Rosenfeld, Executive Vice President, Strategic
Planning and Finance of Steven Madden, Ltd., +1-718-446-1800; Investor
Relations, Cara O'Brien and Leigh Parrish, or Press, Melissa Merrill,
all of Financial Dynamics, +1-212-850-5600, for Steven Madden, Ltd.
Web site: http://www.stevemadden.com
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(SHOO)