Steve Madden to Buy UK Shoe Brand Kurt Geiger for $360 Million

Steven Madden Ltd. agreed to acquire luxury footwear and fashion accessory brand Kurt Geiger Ltd. for about £289 million ($360 million) in cash.

Long Island-based Steve Madden has signed a deal to buy the shoe designer from an investor group led by private equity firm Cinven, according to a statement on Thursday confirming an earlier Bloomberg News report. The transaction is expected to close in the second quarter, subject to regulatory clearance.

Steve Madden has a market value of about $2.7 billion. The company’s shares have fallen about 25 percent in New York trading from a recent peak in October.

Kurt Geiger, founded in central London in 1963, was acquired by Cinven about a decade ago. In addition to Kurt Geiger London, Kurt Geiger’s brand portfolio includes KG Kurt Geiger and Carvela. It operates footwear concessions in Harrods and Selfridges in the UK. The company had about £400 million of estimated revenue for the year ended Feb. 1, 2025, according to the statement.

Steve Madden said it plans to fund the deal with a combination of committed debt financing and cash on hand. Solomon Partners was financial adviser to Steve Madden, while Cinven worked with Bank of America Corp. and Kinmont advised Kurt Geiger’s senior management.

By Swetha Gopinath

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