EXHIBIT 1


Steven Madden, Ltd. Announces Senior Management Changes
-Richard S. Olicker Has Been Promoted to President of Steven Madden, Ltd.-
-Robert Schmertz Has Been Named President of Steve Madden Women's Wholesale
Division-

LONG ISLAND CITY, N.Y., Sept. 24 /PRNewswire/ -- Steven Madden, Ltd. (Nasdaq:
SHOO - news), a leading designer, wholesaler and marketer of fashion footwear
for women, men, and children today announced that Richard S. Olicker, 44, the
Company's Chief Operating Officer, has been promoted to President. Mr. Olicker
will retain his role of Chief Operating Officer and will report directly to
Jamieson Karson, Chief Executive Officer.

Mr. Olicker joined Steven Madden, Ltd. in January 2001 as Chief Operating
Officer, and has been instrumental in facilitating the Company's consistent
growth in both the wholesale and retail divisions. Prior to that, he spent
over 12 years at Aerogroup International, Inc., the manufacturer of Aerosoles
footwear, where he was one of the company's co-founders. In his new capacity,
Mr. Olicker will oversee all management and operational functions of the
Company.

Additionally, the Company announced that Robert Schmertz, 37, President of the
David Aaron Division, has been named to the additional position of President of
the Steve Madden Women's Wholesale Division. Mr. Schmertz has been with the
Company for over three years, serving in various roles and in separate
divisions. In his new role, Mr. Schmertz will oversee all aspects of the
Company's flagship brand.

The Company separately announced that Rhonda J. Brown has resigned from the
Company and its Board of Directors, effective immediately.

Jamieson Karson, Chief Executive Officer, stated, "I am pleased to announce
these two appointments and look forward to both Richard's and Rob's continued
contribution to the success and further growth of Steven Madden, Ltd. Moreover,
I am confident in our entire senior management team's ability to lead the
Company into the future."

Steven Madden, Ltd. designs and markets fashion-forward footwear for women, men
and children. The shoes are sold through Steve Madden Retail Stores, Department
Stores, Apparel and Footwear Specialty Stores, and on-line at
http://www.stevemadden.com, http://www.stevies.com, and
http://www.stevemaddenmens.com. The Company has several licenses for the Steve
Madden & Stevies brands -- including outerwear, leather sportswear, eyewear,
hosiery, watches, handbags, and belts -- owns and operates two retail stores
under its David Aaron brand, and is the licensee for l.e.i. Footwear.

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.