Private equity firm Cinven has reached an agreement to sell Kurt Geiger, a renowned global brand specializing in footwear, handbags, and accessories, to Steve Madden. This transaction is pending regulatory approvals and standard closing conditions.

Kurt Geiger, which opened its first store on London’s Bond Street in 1963, has evolved into a prominent player in the fashion industry. The brand operates over 70 stores across the UK and US, and has expanded its reach into Europe, the Middle East, and Asia. Its distribution strategy includes a mix of direct retail, wholesale partnerships with luxury department stores, concessions in high-end UK stores, international franchises, and a robust e-commerce presence.

The company features three main brands: Kurt Geiger London, KG Kurt Geiger, and Carvela. Kurt Geiger London serves as the flagship brand, showcasing a wide range of products designed by an in-house team. This brand embodies bold creativity, offering shoes, handbags, and accessories that capture the vibrant spirit of the city for a global audience.

Since Cinven's investment, the firm’s Consumer Sector team has collaborated closely with Kurt Geiger’s management to implement a significant business transformation. This includes a digital acceleration strategy aimed at boosting online sales and an internationalization strategy that has shifted the company’s focus from a UK-centric footwear brand to a global lifestyle accessory brand.