Companies

Steve Madden to take over Kurt Geiger

Feb 14, 2025 United States

The US-based company has entered into a definitive agreement to acquire the Kurt Geiger brand from Cinven for approximately 289 million British pounds (about 361 million USD)

Private equity firm Cinven bought Kurt Geiger in 2015, in a deal with Sycamore valued at 372 million US dollars. Since then, its focus has been on building the namesake brand, with significant expansion in the US and other markets.

“While we’ve delivered remarkable growth in recent years, we believe we are in the early stages of our growth journey, with significant expansion opportunities available to us. With its global infrastructure and proven track record of supporting and growing its brands, we believe Steve Madden is the right strategic partner to help us reach our potential”, said Neil Clifford, CEO of Kurt Geiger.

Edward Rosenfeld, Chairman and Chief Executive Officer of Steve Madden, said that the company is excited to add Kurt Geiger London to its portfolio, “a brand that has exhibited exceptional growth over the last several years”. “Kurt Geiger London’s unique brand image, high-quality and statement-making styles and compelling value proposition have driven success across multiple product categories, led by handbags”.

He also praised Kurt Geiger’s international expansion strategy focused on accessories and direct-to-consumer channels, noting that the business complements Steve Madden’s existing portfolio.

In addition to the Kurt Geiger London brand, the company’s portfolio includes KG Kurt Geiger and Carvela. Kurt Geiger also operates footwear concessions in luxury and premium department stores in the UK, including Harrods and Selfridges, selling its own and third-party brands.

In the twelve months ended on the 1^stof February 2025, Kurt Geiger recorded an estimated revenue of approximately 400 million British pounds (500.5 million US dollars).

1 GBP = 1.25 USD

Image Credits: kurtgeiger.com

United Kingdom United States Accessories Acquisitions Companies Footwear Kurt Geiger Steve Madden