Steven Madden Acquires Kurt Geiger in a Landmark Deal

In a significant move to expand its global footprint in the luxury footwear and fashion accessories market, Steven Madden, Ltd. has agreed to purchase Kurt Geiger, the iconic British luxury brand, for approximately £289 million (or about $360 million) in cash. This acquisition marks a strategic step for the New York-based company to strengthen its presence in the high-end fashion sector. Kurt Geiger, renowned for its sophisticated designs and British heritage, will now join Steven Madden’s portfolio of brands, which already includes notable names like Dolce Vita and Betsey Johnson. The deal is expected to close in the second quarter of the year, subject to customary closing conditions.

A Legacy of Style: Kurt Geiger’s Journey

Founded in 1963, Kurt Geiger has been a cornerstone of British fashion for nearly six decades. The brand opened its first store on the prestigious Bond Street in London, quickly becoming synonymous with cutting-edge design and luxury. Over the years, Kurt Geiger has built a loyal customer base, with its products available not only in its own stores but also in premium department stores like Harrods and Selfridges. The brand’s portfolio includes Kurt Geiger London, KG Kurt Geiger, and Carvela, each offering a unique take on contemporary fashion while staying true to the brand’s British DNA.

In 2015, Kurt Geiger was acquired by Cinven, a private equity firm, which has played a pivotal role in the brand’s expansion, particularly in North America. Under Cinven’s ownership, Kurt Geiger’s net turnover in the U.S. skyrocketed from £10 million to £140 million over just four years. This growth underscores the brand’s universal appeal and its ability to resonate with fashion-conscious consumers beyond its British roots. Today, Kurt Geiger boasts over 70 stores across the U.K. and the U.S., with additional operations in Europe, the Middle East, and Asia.

Ambitious Expansion: Kurt Geiger’s Rise in North America

Kurt Geiger’s success in North America has been nothing short of remarkable. “We’re going big in North America,” declared Neil Clifford, Kurt Geiger’s CEO, in a recent statement. Clifford emphasized the brand’s mission to bring a slice of London’s vibrant pop culture to the global stage. “Our creative and social spirit, along with our statement-making styles, aren’t just for Londonphiles,” he said. This ambitious vision has clearly resonated with consumers, as the brand’s revenue for the year ended February 1, 2025, was estimated at £400 million.

The brand’s ability to blend bold, eye-catching designs with a deep-rooted British identity has made it a favorite among fashion enthusiasts. Clifford has expressed his pride in how consumers have embraced Kurt Geiger’s unique aesthetic, stating, “It’s been gratifying to see how consumers have responded to our unique design aesthetic and strong British DNA.” Despite this impressive growth, Clifford believes the brand is only in the early stages of its journey, with significant expansion opportunities still on the horizon.

A Strategic Move: Steven Madden’s Play for Global Growth

The acquisition of Kurt Geiger is a shrewd strategic move by Steven Madden, a company with its own rich history. Founded in 1990 by Steve Madden in Long Island, the brand has built a reputation for delivering stylish, affordable footwear and accessories. Over the years, Steven Madden has expanded its portfolio to include brands like Dolce Vita and Betsey Johnson, operating 282 retail stores and 67 concessions across international markets. However, the purchase of Kurt Geiger represents a bold step into the luxury segment, diversifying the company’s offerings and enhancing its global reach.

Steven Madden’s founder, Steve Madden, expressed his excitement about the deal, calling it “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,” he remarked. This enthusiasm highlights the potential benefits of the acquisition for both companies. Steven Madden plans to fund the deal using a combination of cash on hand and debt, leveraging its financial strength to secure this landmark purchase.

The Future of Fashion: A New Chapter for Kurt Geiger

As Kurt Geiger joins the Steven Madden family, the brand is poised to embark on a new chapter in its history. With Steven Madden’s resources and expertise, Kurt Geiger is expected to accelerate its global expansion, particularly in North America, where it has already seen remarkable success. The integration of Kurt Geiger’s luxury portfolio with Steven Madden’s diverse range of brands creates a powerful synergy, positioning the combined entity as a major player in the global fashion market.

For Kurt Geiger, the acquisition offers an opportunity to build on its legacy while reaching new heights. “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,” said Clifford. This optimism is shared by Steve Madden, who sees the acquisition as a thrilling collaboration that will drive innovation and success for both brands.

As the deal nears completion, all eyes will be on how Steven Madden and Kurt Geiger