Kurt Geiger sold to Steve Madden in £289 million deal
Kurt Geiger is to be sold by private equity owner Cinven for £289 million to fashion company Steve Madden. The transaction is expected to close in the second quarter of 2025.
Established in 1963, Kurt Geiger is a distinguished footwear and accessories brand known for its bold, fashion-forward designs.
The brand has more than 70 stores across the UK and US, and a presence in Europe, the Middle East and Asia. It also operates footwear concessions within luxury and premium department stores, including Harrods and Selfridges.
Cinven bought the shoes and handbag brand in 2015, and has significantly expanded its presence in the US in recent years.
The private equity group was first reported to be mulling a sale of the brand in 2023, following several years of fast sales growth.
In the year ending February 2024, annual sales rose 10% to £360 million as demand for its so-called affordable luxury handbags increased. For the 12 months ending 1 February 2025, the business has estimated revenue of approximately £400 million.
Neil Clifford, CEO of Kurt Geiger, said: "We couldn’t be prouder of the progress our team has made over the last few years in building Kurt Geiger London into a globally recognisable fashion brand. It’s been gratifying to see how consumers have responded to our unique design aesthetic and strong British DNA.
"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."
Edward Rosenfeld, Chairman and CEO at Steve Madden, added: "With this acquisition, we are excited to add Kurt Geiger London, 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.
"Its differentiated and elevated positioning within the market – and its alignment with our strategic initiatives of expanding in international markets, accessories categories and direct-to-consumer channels – make this a highly attractive and complementary addition to our portfolio."
A timeline of Kurt Geiger’s ownership:
2025 - Steve Madden acquires Kurt Geiger for £289 million, after significantly expanding its presence in the US in recent years.
2015 - Private equity firm Cinven acquires the fashion brand, with plans to build on its growth both domestically and internationally.
2014 - New York-based private equity firm Sycamore Partners completes a management-led buyout from The Jones Group, making Kurt Geiger an independent company.
2011- US retail giant The Jones Group acquires Kurt Geiger from private equity firm Graphite Capital to further increase its foothold in the international luxury market.
2008 - Graphite Capital acquires Kurt Geiger. The transaction offered the opportunity to grow both nationally and internationally across all distribution channels.
2005 - Barclays Private Equity acquired Kurt Geiger in a management buyout from former Harrods owner Mohamed Al Fayed for approximately £46 million.
1990s - Kurt Geiger was sold to House of Fraser, owned at the time by Al Fayed, who held onto the brand for 20 years.
1972 - Kurt Geiger was first sold by founder Kurt Geiger's widow to the Spitz family, owners of luxury shoe store Bruno Magli.
1963 - Kurt Geiger was founded.
