Kurt Geiger Separates from The Jones Group

4/11/2014
Luxury European shoe retailer Kurt Geiger completed a management-led buyout and is now operating as an independent company, Sycamore Partners reports.

Sycamore Partners supported Kurt Geiger's management team in its acquisition of the business, which previously was a division of The Jones Group Inc.

Kurt Geiger has been a European footwear retailer since 1963, when it opened its first boutique on Bond Street in London.  Today the company operates in more than 180 multi-branded luxury and premium shoe concessions in leading British and international department stores, including Harrods, Selfridges, House of Fraser, John Lewis, Debenhams, David Jones and Myer.  The company also sells its own iconic footwear brands, including Kurt Geiger London and Carvela, in more than 70 global retail locations, as well as premium department stores in the UK and around the world.

Neil Clifford, Kurt Geiger CEO, said, "We are thrilled to be supported by Sycamore Partners, which has extensive retail experience and a proven history of partnering with management teams.  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."

"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," said Stefan Kaluzny, a Managing Director of Sycamore Partners.  "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."

Clifford and the other members of the Kurt Geiger management team are all reinvesting in the company and will hold a significant stake going forward.  They remain fully committed to the growth of the brand and the business.

 
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