Ex-Missguided owner Alteri Investors considers acquiring Kurt Geiger.
- Multiple parties have shown interest in Kurt Geiger’s acquisition.
- Current discussions are not exclusive, with early-stage negotiations.
- Cinven, current owner, seeks approximately £400m for the sale.
- Kurt Geiger’s profits are up despite a luxury market downturn.
Alteri Investors, known for its previous association with Missguided, is one of several entities engaged in discussions to potentially acquire Kurt Geiger, a renowned luxury footwear brand. The negotiations are reportedly in the preliminary phase and are not bound by exclusivity, as indicated by reports from Sky News.
In addition to Alteri Investors, several other groups are exploring the possibility of placing bids for Kurt Geiger. The footwear chain has been under the ownership of the private equity firm Cinven since 2015. Currently, Cinven is collaborating with Bank of America to oversee the auction, with an estimated sale price around £400 million.
The luxury goods market has been witnessing a decline lately; however, Kurt Geiger has defied this trend. The company registered record profits in its recent annual financial results, with earnings reaching £40 million for the fiscal year ending in February. This success is largely attributed to the brand’s appeal as ‘affordable luxury’ among consumers, even as many high-end competitors, such as Burberry, experience a downturn in sales, leading to its demotion from the FTSE 100 index.
Despite the ongoing talks and interest from various potential buyers, neither Alteri Investors nor Cinven have commented on the matter when approached by news sources.
The interest in acquiring Kurt Geiger highlights its robust market position amidst challenges in the luxury sector.
