European private equity firm Cinven is to acquire Kurt Geiger (‘the Group’), the footwear and accessories company and the largest retailer of luxury footwear in Europe, from Sycamore Partners for an undisclosed sum.
Established in 1963 on London’s Bond Street, Kurt Geiger has a portfolio of attractive brands (including Kurt Geiger London, KG, Miss KG and Carvela) and operates over 80 stores globally and 240 concessions within some of the world’s most prestigious department stores including Harrods, Selfridges, House of Fraser and Debenhams and partners with leading international brands. It has a proven omni-channel business model, operating third party concessions, owned and international franchised stores together with high-growth ecommerce sites.
Kurt Geiger is headquartered in London and employs approx. 1,700 people. In the year ended 31 December 2014, it generated sales of GBP260 million and continues to invest in new and existing outlets throughout the UK.
Maxim Crewe, Partner at Cinven, says: “Kurt Geiger represents an exciting opportunity to acquire the UK’s leading women’s footwear and accessories company with significant international growth and consolidation opportunities. The business enjoys an attractive specialist retail model with multiple brands and routes to market. It is led by a strong, experienced and committed management team and we are looking forward to working with them to achieve the next phase of growth under Cinven’s ownership.”
