Steve Madden acquires Kurt Geiger for £289m
US fashion company Steve Madden is acquiring UK footwear and accessories brand Kurt Geiger for £289m ($572.0m) in cash. The deal is expected to close by the end of 2025.
Transaction snapshot
Deal value: £289m ($572.0m)
Deal multiples: N/A
Deal type: Acquisition
Investors: Steve Madden
Steve Madden’s Nasdaq-listed company confirmed the agreement to purchase Kurt Geiger, which also owns Carvela, from Cinven. The private equity firm had acquired Kurt Geiger for £245m in 2015.
Steve Madden described the acquisition as a career milestone, stating that Kurt Geiger is thriving and that collaborating with the brand is an exciting opportunity.
Madden, who founded his company in 1990, previously served 31 months in prison for securities fraud and money laundering linked to Stratton Oakmont, a financial firm founded by Jordan Belfort. Since his release, he has expanded his company, acquiring brands such as Dolce Vita, Betsey Johnson, and ATM Collection.
Kurt Geiger, established in 1963 as an upmarket footwear store on London’s Bond Street, has diversified into handbags, swimwear, hats, and sunglasses. The brand has also expanded internationally, growing US sales from £10m to £140m in the past four years. It operates more than 70 stores, primarily in the UK and US, and sells online and through department stores.
In 2024, Kurt Geiger reported a 34% increase in underlying profits to £40.4m, with sales rising nearly 10% to £361m.
Kurt Geiger CEO Neil Clifford praised the company’s growth and global recognition, stating that Steve Madden’s infrastructure and expertise would support further expansion. He highlighted significant opportunities ahead and said the new partnership would help the brand realise its full potential.
