Footwear and fashion brand Steve Madden announced that it has an agreement for the acquisition of U.K.-based shoe and accessories brand Kurt Geiger.
Steve Madden would acquire Kurt Geiger from a group led by international private equity firm Cinven for an enterprise value of close to $365 million (£289 million) in cash. In addition to Kurt Geiger London, the Steve Madden acquisition includes Kurt Geiger’s other portfolio brands KG Kurt Geiger and Carvela.
Steve Madden is No. 241 in the Top 2000. The database is Digital Commerce 360’s ranking of North America’s leading online retailers by annual ecommerce sales. There, Steve Madden falls under the Apparel & Accessories category. Digital Commerce 360 projects Steve Madden’s 2025 online sales will reach $372.64 million.
Steve Madden web sales by year
Steve Madden’s Kurt Geiger acquisition
Edward Rosenfeld, who has served as chairman and chief executive officer of Steve Madden since 2008, lauded the move.
“With this acquisition, we are excited to add Kurt Geiger London, a brand that has exhibited exceptional growth over the last several years,” Rosenfeld said in a press release.
He noted Kurt Geiger London’s distinctive brand image, quality, styles and compelling value proposition. Rosenfeld pointed to Geiger’s handbags as complementary and poised for growth.
Neil Clifford, CEO of Kurt Geiger, also noted his support for the deal.
“We couldn’t be prouder of our team’s progress over the last few years in building Kurt Geiger London into a globally recognizable fashion brand. It’s been gratifying to see how consumers have responded to our unique design aesthetic and strong British DNA,” Clifford stated.
Clifford also said joining forces with Steve Madden would allow the brand to leverage Madden’s international infrastructure to continue growing.
Kurt Geiger operates footwear concessions within luxury and premium department stores in the United Kingdom, including Harrods and Selfridges, where it sells its own and third-party brands. For the 12 months ending Feb. 1, 2025, Kurt Geiger had estimated revenue of approximately $505 million.
What the two brands get from the deal
Industry insiders and experts said the move makes sense for both companies.
“This should be a win-win — for Steve Madden and Kurt Geiger,” says Roger L. Beahm, professor of practice in marketing and director of retail learning labs at Wake Forest University’s School of Business.
Beahm said acquiring Geiger will allow Madden to boost its bottom line almost overnight and allow both companies to penetrate one another’s respective markets.
“While Kurt Geiger joins an already-expanding portfolio of brands under the Steve Madden company umbrella, the ability to capitalize on the distribution system and consumer-facing options in the U.S. is not something Kurt Geiger would have otherwise been able to achieve,” Beahm assessed.
Beahm said digital strategy will be a key component of the combined company.
“Digital commerce will only continue to grow in importance for brands like Steve Madden and Kurt Geiger,” Beahm explained, adding that showcasing new offerings while maintaining a brand image is more quickly and efficiently achieved digitally versus through traditional media and brick-and-mortar stores.
Amy Ekren, women’s fashion retail expert and owner of the women’s apparel brand Inherit Clothing, said there are likely to be more mergers and acquisitions in the apparel space that resemble this one.
“We will see more mergers like this in the fashion world,” Ekren stated. “In an increasingly interconnected world, larger brands are always looking to diversify their revenue and target market, and acquisitions are a way to achieve that goal while still honoring customer demands.”
Do you rank in our databases?
Submit your data and we’ll see where you fit in our next ranking update.
Sign up
Stay on top of the latest developments in the online retail industry. Sign up for a complimentary subscription to Digital Commerce 360 Retail News. Follow us on LinkedIn, X (formerly Twitter), Facebook and YouTube. Be the first to know when Digital Commerce 360 publishes news content.
Favorite