- Kurt Geiger for sale.
- Cinven and Bank of America.
- £400 million potential auction.
Bank of America is collaborating with Cinven, which has owned the luxury footwear brand since 2015, regarding a potential auction.
Private equity investors are circling to sell the upscale footwear retailer Kurt Geiger for £400 million.
Cinven is collaborating with Bank of America advisors regarding the potential sale of the brand.
On Tuesday, city sources reported that a sale process was anticipated to commence within the next few months, with luxury product groups and other buyout firms expressing interest.
Established in 1963, Kurt Geiger has been under the ownership of Cinven since 2015.
Previously sponsored by another private equity firm, Sycamore Partners, the brand intends to achieve substantial expansion in the United States through a chain of standalone stores.
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In observance of the company’s 60th anniversary, Neil Clifford, its veteran CEO, recently declared intentions to establish a design academy that would provide vocational training in the fashion industry to young individuals.
The enterprise has been under the management of Mr. Clifford for the past two decades.
It announced a £150 million debt agreement earlier this year to finance its international expansion and refinance existing borrowings.
Harrods and Selfridges are among the department stores in the United Kingdom that have stocked Kurt Geiger footwear for years.
