Companies

Kurt Geiger secures funding to boost international growth

Jun 22, 2023 United Kingdom

The London-based retailer announced that it has secured a new funding deal to refinance its debt and fuel its international growth plans

Kurt Geiger, which is owned by private equity Cinven, secured new funding facilities from Wells Fargo Capital Finance UK and Blazehill Capital, and it has been reported that the deal amounts to around 150 million pounds. The company said it will use this financing to accelerate its international expansion across the US and Europe. “The combined facilities will provide significant flexibility to accelerate our expansion across North America and Europe”, commented Dale Christilaw, Chief Finance Officer of Kurt Geiger.

Founded in 1963 as a footwear retailer, Kurt Geiger expanded its products over time to include handbags, jewellery and sunglasses. These can currently be found in its more than 70 shops and 200 concessions in the UK, as well as online. Looking to grow internationally, the company already entered wholesale partnerships with Dillard's and Nordstrom in the US.

“We're delighted to have provided an upsized credit facility to enable the team at Kurt Geiger to accelerate an already compelling growth trajectory, globally”, commented Tayyib Chowdhry, originations director of Wells Fargo Capital Finance UK. “We're especially pleased to have structured a flexible financing solution at this exciting period when the business has such positive and sustained momentum”, he concluded.

Image Credits: mymerryhill.co.uk

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