Kurt Geiger is a leading footwear and accessories company and is the largest retailer of luxury footwear in Europe.
The Group was established in 1963 on London's Bond Street and today owns a portfolio of attractive brands, such as Kurt Geiger London, KG, Miss KG and Carvela. Kurt Geiger operates more than 80 stores globally and 240 concessions within some of the world's most prestigious department stores, including Harrods, Selfridges, House of Fraser and Debenhams.
Kurt Geiger, headquartered in London, employs approximately 1,700 people and sells through multiple channels, including third-party concessions, owned and franchised stores (in the UK and internationally) and a fast-growing eCommerce offering (including proprietary websites and the websites of concession partners). In the year to 31 December 2014 the Group generated sales of £260 million.
Cinven agreed to acquire the business in December 2015.
Cinven's strategy is to support the Group's expansion through consolidation opportunities within the footwear and retail accessories market; further digitisation and international growth, including the potential for further expansion in Asia and Australia.
The investment is underpinned by Kurt Geiger's strong brand equity, which has the potential to be developed into adjacent clothing and accessory categories, including children's footwear and new third-party brands.
The UK's £8 billion footwear market has forecast growth of 3%, with faster growth predicted in luxury and accessible luxury footwear which are important categories for Kurt Geiger. The Group has long-standing luxury and premium concessions partnerships with multi-year agreements and a track record of consistent growth through economic cycles.
Cinven will also seek to accelerate the development of the Group's eCommerce proposition for both own brands and concession partners in order to optimise the growth in the online channel.