Footwear and accessories brand Kurt Geiger has been bought by a private equity firm Cinven.
Kurt Geiger is the UK’s largest shoe retailer by sales, last year generating £260 million in turnover.
The acquisition includes a portfolio of brands – Kurt Geiger London, KG, Miss KG and Carvela – 80 standalone global stores, partnerships with international brands and 240 department store concessions, including Harrods and Selfridges.
Cinven says Kurt Geiger has a proven omnichannel business model, with third party concessions, owned and international franchised stores together and eCommerce sites showing strong growth.
It says the company appealed for its proven track record of consistent growth – and current plans to roll the brand out further in Asia and Australia. It also sees opportunities to drive the brand into new categories, such as children’s footwear.
“Kurt Geiger represents an exciting opportunity to acquire the UK’s leading women’s footwear and accessories company with significant international growth and consolidation opportunities,” said Maxim Crewe, a Cinven partner.
“The business enjoys an attractive specialist retail model with multiple brands and routes to market. It is led by a strong, experienced and committed management team and we are looking forward to working with them to achieve the next phase of growth.”
CEO Neil Clifford, CFO Dale Christilaw and creative director Rebecca-Farrar-Hockley will all continue in their roles under the new owners.
The vendor was Sycamore Partners and the price was not disclosed.