Strategic Positioning and Market Trends Boost Steven Madden's Growth PotentialWe expect that more open-to-buy will be allocated to SHOO, especially to the Steve Madden & Dolce Vita brands, as the price value relationship will be more aligned. For example, at Macy's, the I.N.C. Fawne Riding Boot, which is made in China, retails for $189 while the Boot, whichis made in Mexico, retails for $199. We believe that tariffs will cause the price of the Fawne boot, or any similar item to increase, which will, in our view, for the most part price private label out of viability. Smaller junior brands which often compete for shelf space with Vita will face the same challenges as private label. Retailers and small brands generally do not have the scale or factory relationships that can match those of SHOO.