Kurt Geiger aims for growth after completing management buyout
Kurt Geiger has separated from The Jones Group and completed a management buyout as it looks to expand the luxury shoe brand both in the UK and overseas.
The management team was backed in the acquisition by private equity firm Sycamore Partners, which has recently acquired The Jones Group.
Kurt Geiger, whose footwear brands also include Carvela, was established in 1963 when it opened its first boutique on London’s Bond Street. Today the company has over 70 stores worldwide and operates concessions in department stores such as Harrods, Selfridges, House of Fraser, John Lewis, Debenhams, David Jones and Myer.
The company is now being led by chief executive Neil Clifford.
Clifford said: “We are thrilled to be supported by Sycamore Partners, which has extensive retail experience and a proven history of partnering with management teams.”
He added: “We believe our company has tremendous potential for growth in the UK and internationally, and we will continue to invest in new opportunities alongside our department store and brand partners. Our company is passionate about product, and we will carry on our legacy of offering the most exciting and innovative footwear, bringing the creativity of British design talent to a global audience.”
Clifford and other members of the Kurt Geiger management team are all reinvesting in the company and will hold a significant stake in the business.
Stefan Kaluzny, a managing director of Sycamore Partners added: “We have great respect for Kurt Geiger’s strong and dedicated management team, deep history of partnership with exceptional department stores, and its own distinctive portfolio of footwear brands. The company has great potential for growth, and we look forward to working with Neil and the Kurt Geiger team to help position the business for long-term success.”