“Let’s make a deal” seems to be Kurt Geiger’s mantra, and the British retailer could soon have another new owner.
During a robust year for the company — sales and profits are said to be up significantly – it is reportedly attracting acquisition interest from several major players, including Lion Capital, the former owner of Jimmy Choo. Sky News first reported news of a potential deal, suggesting the value could be in the range of 250 million pounds, or $378 million dollars.
Sycamore Partners backed Kurt Geiger CEO Neil Clifford and the management team last year in a management-led buyout that transpired when the former Jones Group portfolio was broken up into pieces. (The terms of the Kurt Geiger and Sycamore deal were not disclosed, but Jones bought Kurt Geiger for $350 million in 2011.)
Sycamore moved quickly to unload another former Jones brand, Stuart Weitzman, to Coach and was said to be mulling options for Kurt Geiger at the same time.
In the past few years, Kurt Geiger has made a number of major expansion moves. In the luxury space, it partnered with Harrods on its massive Shoe Heaven floor. Kurt Geiger also recently inked a deal with Selfridges’ to operate its children’s footwear business. And within the firm’s private label business, it is expanding into new categories and significantly ramping up its internet presence.
Sky News also reported that LVMH-backed L Capital and Advent Capital could be “seeking information” about Kurt Geiger.
The company did not return requests for comment on Tuesday.