Kurt Geiger owner Cinven explores £450m sale to US group
Private equity firm Cinven, owner of footwear retailer Kurt Geiger, is looking at cashing in on the high street brand’s success with a £450m sale, according to a report in The Telegraph.
If a deal is done it would mean the shoe chain will change hands once again, only four years after Cinven acquired the premium footwear group for £245m from private equity backer Sycamore Partners.
Cinven has apparently already held informal “fireside chats” with potential buyers across the Atlantic, would include major fashion groups including Steve Madden, Michael Kors and Coach.
In 2017, Kurt Geiger generated sales of £330m, which was an increase of 12%. Since being acquired by Cinven it has put a major focus on international expansion.
It currently operates 80 stores globally and 240 concessions in department stores such as Harrods and Selfridges, employing around 1,300 people. Kurt Geiger was founded in London’s Bond Street in 1963.