Kurt Geiger bought by Cinven for £245 million

Star appeal: Model Karen Elson has modelled for Kurt Geiger

Kurt Geiger

14 December 2015

Private-equity firm Cinven has strutted into the upmarket shoe market, with the purchase of London-founded retailer Kurt Geiger for around £245 million.

The brand, whose £250 heels and handbags are stocked in 240 concessions such as House of Fraser and 80 standalone stores, was established in 1963 on Bond Street.

It counts model Gigi Hadid and actress Emily Blunt as fans and generated sales of £260 million last year.

Kurt Geiger’s management and backers Sycamore Partners hired Goldman Sachs in April to explore a sale.

Since 2007 it has been expanding overseas with a presence in the Middle East, North America and Australia.

Future plans include moving into the children’s footwear market.

Charles Miller-Jones, senior principal at Cinven, said: “We see real potential to develop further the omni-channel offering as well as expand the business internationally.”