Steve Madden is acquiring UK-based footwear and accessories brand Kurt Geiger for £289 million in cash. The deal, expected to close by the end of 2025, will see the London-based company, which also owns Carvela, transition from private equity firm Cinven, which purchased it for £245 million in 2015. Madden, whose brand has grown into a global fashion powerhouse, called the acquisition “one of the great accomplishments” of his career.
Founded in 1963 as a luxury footwear retailer on Bond Street, Kurt Geiger has expanded into handbags, swimwear, and accessories while significantly increasing its international footprint. In the past four years, its US sales have surged from £10 million to £140 million, contributing to a 34% rise in underlying profits last year. CEO Neil Clifford credited the brand’s momentum and sees Steve Madden as the right partner to accelerate its global expansion.
Madden, who launched his company in 1990, previously served 31 months in prison for securities fraud tied to his involvement with Stratton Oakmont, the firm depicted in The Wolf of Wall Street. Since then, he has built a successful fashion empire, acquiring brands like Dolce Vita, Betsey Johnson, and ATM Collection. The Kurt Geiger acquisition strengthens Madden’s presence in the UK and US markets, aligning with his strategy of scaling established fashion brands.
