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Investing.com -- Steve Madden (NASDAQ:SHOO), a prominent designer and marketer of fashion footwear, accessories, and apparel, has confirmed that it will acquire UK-based Kurt Geiger from an international private equity group led by Cinven. The deal, which has been finalized, values the enterprise at around £289 million in cash.
Edward Rosenfeld, Chairman and CEO of Steve Madden, expressed enthusiasm over the acquisition of Kurt Geiger London, a brand that has shown significant growth in recent years. He highlighted the brand’s unique image, high-quality, and statement-making styles, especially in handbags, as key drivers of its success across multiple product categories. He also noted that Kurt Geiger’s elevated market positioning and its strategic alignment with Steve Madden’s expansion goals make it a valuable addition to the company’s portfolio.
Neil Clifford, CEO of Kurt Geiger, expressed pride in the progress the team has made in building Kurt Geiger London into a globally recognizable fashion brand. He acknowledged the positive consumer response to their unique design aesthetic and British DNA. Clifford sees this as the early stages of their growth journey, with significant expansion opportunities available. He believes Steve Madden, with its global infrastructure and proven success in supporting and growing its brands, is the ideal strategic partner for reaching their potential.
Steve Madden, the company’s founder and creative and design chief, expressed excitement about partnering with Kurt Geiger. He sees this as a significant accomplishment in his career, which began with the founding of the company in 1990.
Kurt Geiger’s brand portfolio includes Kurt Geiger London, KG Kurt Geiger, and Carvela. The company also operates footwear concessions within luxury and premium department stores in the United Kingdom (TADAWUL:4280), such as Harrods and Selfridges, where it sells both its own and third-party brands. For the twelve months ending on February 1, 2025, Kurt Geiger reported estimated revenues of around £400 million.
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