Kurt Geiger sets the best foothold with the £400m sales plan

High-end shoe retailer Kurt Geiger is being groomed for a £400m sale. of its private equity backers.

Sky News has learned that Cinven is working with advisers at Bank of America on a potential auction of the brand.

City sources said on Tuesday that a sale process was expected to begin in the coming months, with interest expected from luxury goods groups and other buyout firms.

Founded in 1963, Kurt Geiger has been owned by Cinven since 2015.

Previously backed by Sycamore Partners, another private equity group, the brand is aiming for significant expansion in the US through a chain of stand-alone stores.

To mark its 60th anniversary, its long-time chief executive, Neil Clifford, recently announced plans to establish a design academy for young people to embark on careers in the fashion industry.

Mr. Clifford has run the business for the past two decades.

Earlier this year it announced a £150m debt deal. to finance its international expansion and refinance existing loans.

In the UK, Kurt Geiger’s shoes have been sold in department stores including Harrods and Selfridges for years.

Cinven declined to comment.


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