Steve Madden, the renowned New York-based footwear and accessories giant, is making a bold move to expand its global footprint. The company announced on Thursday that it has signed an all-cash agreement to acquire UK-based luxury brand Kurt Geiger for £289 million ($360.09 million).
The deal signals Steve Madden’s ambition to strengthen its presence in international markets, particularly in the luxury and premium footwear segment.
Known for owning popular brands like Dolce Vita and Betsey Johnson, Steve Madden will take over Kurt Geiger from private equity firm Cinven, which previously owned the British brand.
Kurt Geiger, a well-established name in the UK luxury fashion scene. The acquisition will allow Steve Madden to tap into Kurt Geiger’s established customer base and premium market positioning.
Steve Madden plans to fund the transaction through a mix of cash reserves and debt, and the deal is expected to close in the second quarter of 2025.
The financials reveal impressive figures for Kurt Geiger:
- The brand reported an estimated revenue of £400 million ($498 million) for the 12 months ending February 1, 2025.
- Steve Madden, on the other hand, is projected to post $2.25 billion in revenue for 2024, with official fourth-quarter results expected on February 26.
Alongside the acquisition, Steve Madden is reevaluating its sourcing strategy due to potential trade policy shifts following Donald Trump’s re-election as U.S. President. The company has hinted at a reduction in reliance on China for product manufacturing, a move that could impact supply chains and pricing.
