Kurt Geiger owner mulls £450m sale to US fashion giants
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The private equity firm which owns Kurt Geiger is reportedly mulling over a sale of footwear and accessories retailer to some of America’s fashion giants for around £450m.
According to The Telegraph, Cinven has reportedly held “fireside chats” with potential buyers including Steve Madden, Michael Kors and Coach. If a deal is to take place it would be just four years after Cinven acquired it from fellow equity firm Sycamore Partners for £345m.
Founded in London in 1963 by Austrian namesake, Kurt Geiger, the company now has more than 80 stores in 20 countries, employing around 1,300 people, and 240 concessions, including in Harrods and Selfridges.
The Kurt Geiger group also has a portfolio of brands including Carvela and Miss KG and in 2017 the company reported a 12% increase in sales to £330m. Since Cinven acquired the retailer it has become focused on expanding globally and reducing its reliance on the UK market and has even relaunched in America.
