Alteri Investors, former owners of Missguided, are in talks to acquire luxury footwear brand Kurt Geiger among other potential buyers.
- Talks are ongoing with multiple parties interested in purchasing Kurt Geiger, a brand owned by Cinven since 2015.
- The current asking price for the footwear chain is approximately £400 million, as reported by Sky News.
- Kurt Geiger reported record profits this year, with a £40 million gain till February, despite a general luxury market slowdown.
- Both Alteri Investors and Cinven have refrained from commenting on these developments as of now.
Alteri Investors, previously linked to Missguided, are reportedly exploring the acquisition of the luxury footwear brand, Kurt Geiger. This interest places them among several parties assessing the potential purchase of the brand, which has been under the ownership of private equity firm Cinven for nearly a decade.
The discussions about acquiring Kurt Geiger are still at a nascent stage and are not exclusive, indicating a competitive landscape with various bidders. Among these, luxury goods groups and private equity firms have shown considerable interest, with an estimated asking price positioned around £400 million, as highlighted by reliable sources including Sky News.
Kurt Geiger has demonstrated remarkable financial resilience by achieving record profits, marking a £40 million profit for the fiscal year ending in February. This success story stands out amidst a challenging period for luxury retailers, wherein major competitors like Burberry have faced setbacks, as reflected by Burberry’s recent exclusion from the FTSE 100 index.
With Cinven having engaged Bank of America for managing the sale deliberations, the high level of potential interest in Kurt Geiger is evident. Despite this, official statements from Cinven and Alteri Investors have been notably absent, leaving market analysts and stakeholders keenly observing the situation.
The potential sale of Kurt Geiger highlights significant interest from multiple investors amidst its ongoing profitability.
