Alteri Investors, former owner of Missguided, is considering the acquisition of luxury footwear retailer Kurt Geiger.
- The discussions are currently in initial stages and open to multiple parties, not conducted exclusively.
- Cinven seeks an approximate £400 million from the sale of Kurt Geiger, having owned it since 2015.
- Kurt Geiger has posted significant profits recently, in contrast to a struggling luxury market.
- Bank of America is managing the auction process for Kurt Geiger, attracting various buyout firms and luxury groups.
Alteri Investors, known for having previously owned Missguided, is exploring the possibility of acquiring the well-regarded luxury footwear brand Kurt Geiger. These discussions, according to Sky News, remain in the preliminary stages. They are not exclusory, allowing various interested parties to examine their options regarding the acquisition.
The private equity firm, Cinven, has held ownership of Kurt Geiger since 2015 and is presently engaged in a sales process, seeking around £400 million for the brand. This process is being supervised by Bank of America. There is an emerging interest from multiple buyout firms and luxury goods enterprises considering a bid.
Amidst a general downturn in the luxury sector, Kurt Geiger has reported impressive profit margins. The brand’s annual figures indicated a profit of £40 million, capitalising on the consumer trend towards ‘affordable luxury’. This financial success comes despite a challenging market environment that has seen some competitors, such as Burberry, encounter difficulties, including recent demotion from the FTSE 100.
Both Alteri Investors and Cinven have chosen to withhold comments regarding these proceedings when approached by media sources like Sky News. However, the active involvement of notable financial institutions and firms underscores the potential significance of this transaction in the luxury goods market.
The outcome of these acquisition talks could significantly impact the luxury footwear market.
