Steve Madden takes over the British accessory and shoe provider Kurt Geiger.
The American fashion provider has made a final agreement to assume for a company value of around £ 289 million (around 347 million euros), said Steve Madden on Thursday. The group secures the shoe provider from a group around the British private equity company Cinven.
“We are very happy to add this acquisition Kurt Geiger London, a brand that has recorded exceptional growth in recent years,” said Edward Rosenfeld, CEO of Steve Madden. “The differentiated and upscale positioning in the market-and the agreement with our strategic initiatives for expansion in international markets, accessories categories and direct-to-consumer channels-make this complement to our portfolio extremely attractive and complementary.”
In addition to the main brand Kurt Geiger London, Kurt Geiger’s brand portfolio also includes the KG Kurt Geiger line and the Carvela shoe brand. The company also operates shoe areas in British luxury dealers such as Harrods and Selfridges. There, the own brands are also offered.
In the past twelve months to February 1, 2025, Kurt Geiger achieved an estimated turnover of around £ 400 million (480 million euros).
“We could not be proud of the progress that our team has made in recent years to build Kurt Geiger London into a globally recognized fashion brand,” said Neil Clifford, CEO of Kurt Geiger.
Despite the growth of last year, Clifford sees the company at an early stage that offers significant expansion opportunities. Therefore, in Steve Madden you can see the right strategic partner with his global infrastructure to exploit the potential.
The transaction is expected to be completed in the second quarter of 2025, subject to the maintenance of the necessary official permits and other usual final conditions.