Kurt Geiger, the renowned footwear and accessories retailer, is embarking on a new phase of expansion in Europe and the US with a fresh funding package. The company, which is owned by private equity firm Cinven, has secured a deal worth approximately £150 million through refinancing its debt. This considerable cash injection will enable Kurt Geiger to further expand its international presence, as CEO Neil Clifford aims to make the international business just as substantial as its UK operations.
Over the past few years, Kurt Geiger has successfully extended its reach in Europe and the US, complementing its existing fleet of 70 standalone stores and over 100 concessions. The company has witnessed impressive sales growth, with a turnover surge of nearly 22% to exceed £234 million in the year ending January. Net profits reached a commendable £7.3 million. The UK market demonstrated an impressive growth rate of 71%, while North America experienced an astounding leap of 236%. Kurt Geiger’s partnership with Dillard’s and Nordstrom through wholesale agreements has greatly contributed to its triumph.
This year, the brand proudly celebrates its 60th anniversary since its founder opened the first shop on London’s esteemed Bond Street in 1963. Since then, Kurt Geiger has cemented its position as one of the top names in the upscale segment of the UK market. Alongside its own stores, the company operates concessions within department stores, including prominent spaces in Harrods and Selfridges.
The recent funding deal will be instrumental in driving Kurt Geiger’s expansion plans and consolidating its position as a prominent player in the luxury segment. With a solid financial foundation and a steadfast commitment to international growth, the company is poised to sustain its triumphant journey in the global market.
Useful links:
1. Kurt Geiger Official Website
2. Cinven Official Website
