Steve Madden Purchases Luxury Brand Kurt Geiger
UK-based Geiger's brands Carvela and KG Kurt Geiger will also be under Madden's umbrella/
The Steve Madden fashion family has gotten bigger. Madden plonked down 360.09 million dollars in cash to purchase Kurt Geiger from private equity firm Cinven. Keiger has two other labels: Carvela and KG Kurt Geiger; they are part of the deal.
Steve Madden has grown from a women’s shoe company into an international fashion, shoes, and accessory brand. Other Steve Madden properties include Betsey Johnson and Dolce Vita.
In 1960, Kurt Geiger opened a stand-alone shop on London’s Bond Street. The brand expanded to include stores worldwide and shoe boutiques within Harrods and Selfridges.
Geiger’s signature motif is the rainbow. Most commonly seen on the brand’s bags in various materials - leather, denim, crystals, rhinestones, and the like.
In a press release, Steve Madden, founder, creative and design chief, stated, “When I started this company in 1990, I never dreamed we would be where we are today. Owning Dolce Vita, one of the most talked about brands in America, Betsey Johnson and ATM Collection, and now being able to partner with Kurt Geiger, is one of the great accomplishments of my career. The brand is doing better and better every year, and the opportunity to collaborate with them is thrilling. I get goosebumps just thinking about it.”
In that same release, Neil Clifford, CEO of Kurt Geiger, said, “When I started this company in 1990, I never dreamed we would be where we are today. Owning Dolce Vita, one of the most talked about brands in America, Betsey Johnson and ATM Collection, and now being able to partner with Kurt Geiger, is one of the great accomplishments of my career. The brand is doing better and better every year, and the opportunity to collaborate with them is thrilling. I get goosebumps just thinking about it.”