Kurt Geiger to have new owners
14/12/2015
Established in 1963 on London’s Bond Street, Kurt Geiger has a portfolio of brands (including Kurt Geiger London, KG, Miss KG and Carvela) and operates over 80 stores globally and 240 concessions within department stores such as Harrods, Selfridges, House of Fraser and Debenhams. It employs around 1,700 people and generated sales of £260 million last year.
Cinven said on announcing the acquisition that it views Kurt Geiger as having “further expansion opportunities”, including further roll-out in Asia and Australia. It said the UK footwear market is growing, valuing it at £8 billion now with 3% annual forecast growth. Moreover, it said it expects even stronger growth in Kurt Geiger’s key segments of “luxury and bridge footwear”.
The investment company said holds the Kurt Geiger leadership team in high regard and that chief executive, Neil Clifford, chief finance officer, Dale Christilaw, and creative director, Rebecca Farrar-Hockley, “will continue in their key roles under Cinven ownership”.
Commenting on the development, Mr Clifford said: “Our ambitions are significant and we believe Kurt Geiger will continue its successful track record of delivering strong growth both domestically and on the international stage.”
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