Steve Madden Acquires UK Luxury Brand Kurt Geiger From Private Equity Firm Cinven
Steve Madden Acquires UK Luxury Brand Kurt Geiger From Private Equity Firm Cinven
US fashion company Steve Madden acquired UK luxury brand Kurt Geiger from private equity firm Cinven in a deal worth £289m. Steve Madden was advised by Foley in the US and Travers Smith in the UK. Cinven was advised by Freshfields while Kurt Geiger was advised by Addleshaw Goddard.
The transaction will be funded by Steve Madden with cash and committed debt financing and is expected to close in Q2 2025, subject to clearance and other closing conditions.
Company founder Steve Madden reportedly said: “When I started this company in 1990, I never dreamed we would be where we are today. Owning Dolce Vita, one of the most talked about brands in America, Betsey Johnson and ATM Collection, and now being able to partner with Kurt Geiger, is one of the great accomplishments of my career. The brand is doing better and better every year, and the opportunity to collaborate with them is thrilling. I get goosebumps just thinking about it.”
Neil Clifford, CEO of Kurt Geiger, reportedly said: “We couldn’t be prouder of the progress our team has made over the last few years in building Kurt Geiger London into a globally recognisable fashion brand. It’s been gratifying to see how consumers have responded to our unique design aesthetic and strong British DNA.”
“While we’ve delivered remarkable growth in recent years, we believe we are in the early stages of our growth journey, with significant expansion opportunities available to us. With its global infrastructure and proven track record of supporting and growing its brands, we believe Steve Madden is the right strategic partner to help us reach our potential.”
Not only does Steve Madden design, source and market footwear, accessories and apparel under its own brands including Steve Madden, Dolce Vita, Betsey Johnson, Blondo and ATM, the company licenses footwear, handbags and accessories from Anne Klein and designs and sources products under private label brand names for different retailers.
Kurt Geiger’s brand portfolio includes KG Kurt Geiger and Carvela in addition to Kurt Geiger London. Footwear concessions within luxury and premium department stores in the UK including Harrods and Selfridges are operated by Kurt Geiger.
Cinven, originally founded in 1977 within the British Coal pension schemes, is an international private equity firm, managing capital on behalf of more than 500 investors worldwide.
