Key facts
- Steve Madden will acquire Kurt Geiger from Cinven for approximately 289 million British pounds ($361 million USD).
- Kurt Geiger recorded an estimated revenue of 400 million British pounds ($500.5 million USD) in the twelve months ended February 1, 2025.
- Kurt Geiger operates footwear concessions in luxury department stores including Harrods and Selfridges.
- The brand's portfolio includes KG Kurt Geiger and Carvela.
- Cinven acquired Kurt Geiger in 2015.
Steve Madden has agreed to acquire the Kurt Geiger brand from private equity firm Cinven for approximately 289 million British pounds, equating to about $361 million USD. The deal was announced as Kurt Geiger continues to expand its offerings, including a recent move into children's footwear departments at Harrods and Selfridges.
Kurt Geiger, established in 1963, is described as Europe's largest luxury shoe retailer. In the twelve months leading up to February 1, 2025, the company recorded an estimated revenue of approximately 400 million British pounds ($500.5 million USD). The brand's portfolio includes its namesake brand, KG Kurt Geiger, and Carvela, and it also operates footwear concessions in luxury department stores such as Harrods and Selfridges.
Steve Madden's Chairman and Chief Executive Officer, Edward Rosenfeld, expressed excitement about adding Kurt Geiger London to its portfolio, citing its unique brand image, high-quality products, and compelling value proposition. He also noted the brand's international expansion strategy focused on accessories and direct-to-consumer channels, which complements Steve Madden's existing business.
Kurt Geiger CEO Neil Clifford stated that Steve Madden is the right strategic partner to help the brand reach its potential, given its global infrastructure and track record of brand growth. He highlighted that while significant growth has been achieved, the company is still in the early stages of its growth journey with substantial expansion opportunities available.
This acquisition follows previous ownership changes for Kurt Geiger. In 2015, private equity firm Cinven bought the brand from Sycamore in a deal valued at $372 million USD. Prior to that, in 2011, US firm Jones Group acquired Kurt Geiger from private equity group Graphite Capital for $350 million (£215 million).