Kurt Geiger becomes independent
Kurt Geiger has been bought by its CEO, Neil Clifford, and other members of the brand’s management team after it was sold – as a part of the Jones Group – earlier this month to US private equity group Sycamore Partners. After purchasing the Jones Group – which also comprises Stuart Weitzman, Anne Klein and Nine West – Sycamore Partners agreed to split the brands in order to support the bid from the senior Kurt Geiger employees.
It’s not the first time that Clifford has put financial weight behind the upscale footwear and handbags retailer. In 2005 he spearheaded a £46 million buyout of the brand and another in 2008. The new deal with Sycamore paves the way for Clifford and his team to have control over global expansion.