Kurt Geiger
Steve Madden buys Kurt Geiger for €347 million
The American group Steve Madden has acquired the British footwear and accessories brand for £289 million (around €347 million). The sale was carried out by London-based private equity firm Cinven, which bought Kurt Geiger in 2015 (from Sycamore) for £245 million, writes laconceria.it.
The founder of the American company, Steve Madden, is inspired by the new acquisition: “The opportunity to collaborate with Kurt Geiger is one of the greatest achievements of my career.”
British brand Kurt Geiger was founded in 1963 as a luxury shoe store on Bond Street in London. It was previously part of the retail empire of former Harrods owner Mohamed Al Fayed. Then the Kurt Geiger brand began to develop, under which shoes, bags, swimwear, hats and sunglasses were produced in the premium segment.
Over the past four years, Kurt Geiger's sales in the US have grown from £4 million to £10 million. According to The Guardian, the brand has more than 140 stores and sells its products online and through department stores. Kurt Geiger's turnover for the most recent financial year, ending February 70, 1, was £2025 million (approximately €400 million).
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The American group Steve Madden has acquired the British footwear and accessories brand for £289 million (around €347 million). The sale was carried out by London-based private…
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