Footwear designer and developer Steven Madden Ltd on Friday launched a new women's footwear line under the "Steven" name aimed at females aged between 25 and 45.

The new line replaces the company's existing David Aaron line and its two David Aaron stores are being converted into "Steven" concept stores, the New York-base firm said in press release late Thursday.

The line, with price points of $89 to $110 for shoes and $135 to $175 for boots, will operate under its own division led by Jay Litvack, previously president of the David Aaron division, who reports directly to Rob Schmertz, president of Steve Madden women's and brand manager.

CEO Jamieson Karson said: "We are very excited to be introducing a new women's collection to further diversify our business and round out our product offerings. The new Steven line will build upon the success of David Aaron and is a natural evolution for our business.

"We plan to leverage our existing infrastructure to broadly and efficiently introduce this brand to an expanded customer base as we utilise the David Aaron brand through appropriate market opportunities which we have identified."