Steve Madden acquires Kurt Geiger for £289m

Steve Madden has agreed to acquire UK-based Kurt Geiger from a group led by international private equity firm Cinven for an enterprise value of approximately £289m in cash. 

In addition to Kurt Geiger London, the brand’s portfolio includes KG Kurt Geiger and Carvela. 

Kurt Geiger also operates footwear concessions within luxury and premium department stores in the UK, including Harrods and Selfridges, where it sells both its own and third-party brands. 

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.”

In 1963, Kurt Geiger opened its first store on London’s Bond Street. Today the company operates a diverse omni-channel distribution approach, with more than 70 stores across the UK and US, and has a presence in each of Europe, the Middle East and Asia. 

Kurt Geiger London, the group’s halo brand, is created by its in-house design team and has developed a “distinctive” identity, inspired by the energy of its home city. The product range spans shoes, handbags, and accessories – including swimwear, sunglasses, belts, and hats – all designed to reflect the brand’s creativity.

Steve Madden, founder and creative and design chief of Steve Madden, said: “When I started this company in 1990, I never dreamed we would be where we are today. Owning Dolce Vita, one of the most talked about brands in America, Betsey Johnson and ATM Collection, and now being able to partner with Kurt Geiger, is one of the great accomplishments of my career. The brand is doing better and better every year, and the opportunity to collaborate with them is thrilling. I get goosebumps just thinking about it.”

Maxim Crewe, partner and head of Cinven’s consumer and financial services sector teams, added: “We are proud of the journey we have taken with Kurt Geiger. Leveraging Cinven’s experience in the consumer sector, we have worked closely with Neil and the entire management team to implement new ideas and strategies that have strengthened the business. 

“It has been a privilege to support such an iconic company, and we look forward to seeing the brand continue to thrive in its next chapter.”