Kurt Geiger is to be offered by its non-public fairness proprietor Cinven for £289 million to style firm Steve Madden. The transaction is predicted to shut within the second quarter of 2025.
Established in 1963, Kurt Geiger is a distinguished footwear and equipment model identified for its daring, fashion-forward designs.
The model has greater than 70 shops throughout the UK and US, and a presence in Europe, the Center East and Asia. It additionally operates footwear concessions inside luxurious and premium department shops, together with Harrods and Selfridges.
Cinven purchased the sneakers and purse model in 2015, and has considerably expanded its presence within the US in recent times.
The non-public fairness group was first reported to be mulling a sale of the model in 2023, following a number of years of quick gross sales development.
Within the yr ending February 2024, annual gross sales rose 10% to £360 million as demand for its so-called inexpensive luxurious purses elevated. For the 12 months ending 1 February 2025, the enterprise has estimated income of roughly £400 million.
Neil Clifford, CEO of Kurt Geiger, mentioned: “We couldn’t be prouder of the progress our staff has remodeled the previous few years in constructing Kurt Geiger London right into a globally recognisable style model. It’s been gratifying to see how shoppers have responded to our distinctive design aesthetic and powerful British DNA.
“Whereas we’ve delivered exceptional development in recent times, we imagine we’re within the early levels of our development journey, with vital enlargement alternatives out there to us. With its international infrastructure and confirmed observe document of supporting and rising its manufacturers, we imagine Steve Madden is the proper strategic associate to assist us attain our potential.”
Edward Rosenfeld, Chairman and CEO at Steve Madden, added: “With this acquisition, we’re excited so as to add Kurt Geiger London, a model that has exhibited distinctive development over the past a number of years.
“Kurt Geiger London’s distinctive model picture, high-quality and statement-making kinds and compelling worth proposition have pushed success throughout a number of product classes, led by purses.
“Its differentiated and elevated positioning throughout the market – and its alignment with our strategic initiatives of increasing in worldwide markets, equipment classes and direct-to-consumer channels – make this a extremely enticing and complementary addition to our portfolio.”
Began in Lengthy Island in 1990, Steve Madden additionally owns the Dolce Vita, Betsey Johnson, Blondo and Greats style manufacturers.
