Private equity firm Cinven has agreed to sell Kurt Geiger, the global footwear, handbag, and accessories brand which opened its first store on London’s Bond Street in 1963, to Steve Madden, for a reported £289m, subject to regulatory approvals and other customary closing conditions.
Today Kurt Geiger (KG) operates a diverse omni-channel distribution approach, with more than 70 stores across the UK and US, and has a presence in each of Europe, the Middle East, and Asia. In addition to its own stores, KG sells through a wholesale footprint in leading luxury US department stores, a concessions footprint in luxury UK department stores, a number of international franchise stores and a strong e-commerce presence on both its own and third-party partner websites.
The Company operates through three brands: Kurt Geiger London, KG Kurt Geiger and Carvela. Kurt Geiger London, the group’s halo brand, is created by its in-house design team and spans shoes, handbags, and accessories – including swimwear, sunglasses, belts, and hats – all designed to reflect the brand’s bold creativity, bringing the city’s spirit to life for a global audience.
Since the investment by the Cinven funds, Cinven’s Consumer Sector team has partnered closely with Kurt Geiger’s management team to execute an ambitious business transformation, including a digital acceleration strategy to drive online sales and an internationalisation strategy that has repositioned the Company from a UK-focused footwear business into a global accessory lifestyle brand.
