Kurt Geiger opened its first store on London’s Bond Street in 1973. It currently has more than 70 shops across the UK and US alongside a wholesale and ecommerce presence in Europe, the Middle East and Asia.
In the year to February 2024, annual sales rose 10% to £360m, driven by rising global demand for its “affordable luxury’ handbags”, the brand said.
The US has become its largest market, with net turnover in the country growing from £10m to £140m in the last four years.
Neil Clifford, CEO of Kurt Geiger, said: “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.”
Edward Rosenfeld, chairman and CEO of Steve Madden, said: “Kurt Geiger London’s unique brand image, high-quality and statement-making styles and compelling value proposition have driven success across multiple product categories, led by handbags.
“Its differentiated and elevated positioning within the market – and its alignment with our strategic initiatives of expanding in international markets, accessories categories and direct-to-consumer channels – make this a highly attractive and complementary addition to our portfolio.”
The deal is expected to close in the second quarter of 2025, subject to regulatory approvals.
