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Steve Madden is making a bold stride into the international luxury footwear market, announcing Thursday its $361 million acquisition of British brand Kurt Geiger. The move, backed by Travers Smith LLP and Foley & Lardner LLP, positions the Nasdaq-listed U.S. retailer for a stronger foothold in European markets while adding a brand known for its fashion-forward, statement-making designs.

The deal, valued at £289 million inclusive of debt, will see Steve Madden acquire Kurt Geiger from private equity group Cinven, pending regulatory approvals. The companies expect the transaction to close by June 2025.

A Strategic Fashion Power Move

With approximately 70 standalone stores and a presence in luxury department stores like Harrods, Kurt Geiger has built a strong midrange luxury reputation, boasting a £400 million estimated revenue for 2024. Its three key brands—Kurt Geiger London, KG Kurt Geiger, and Carvela—have fueled its growth, making it an attractive addition to Steve Madden’s growing empire.

Steve Madden, headquartered in Long Island, New York, is known for its trend-driven footwear and accessories portfolio, which includes Dolce Vita, Betsey Johnson, and Mad Love. The company also licenses brands such as Anne Klein and Superga.

Leadership Sees Growth Potential

Steve Madden CEO Edward Rosenfeld hailed the deal as a strategic leap, highlighting Kurt Geiger’s “exceptional growth, unique brand identity, and compelling value proposition.”

"Kurt Geiger's high-quality, statement-making styles have driven success across multiple categories, especially handbags," Rosenfeld said.

Meanwhile, Kurt Geiger CEO Neil Clifford emphasized that the brand is still in the "early stages of its growth journey", adding that Steve Madden’s global infrastructure will accelerate expansion efforts.

Regulatory Hurdles & Closing Timeline

The acquisition remains subject to regulatory approvals, though the companies have not disclosed which authorities will review the transaction. Steve Madden plans to finance the deal through a mix of cash and debt financing.

Legal and Financial Advisors

Travers Smith LLP and Foley & Lardner LLP are advising Steve Madden, with a team led by corporate partner Jon Reddington. Solomon Partners LP is serving as the company's financial adviser.

Cinven is represented by Freshfields LLP, while BofA Securities is advising the private equity group. Kurt Geiger’s senior management is receiving counsel from Addleshaw Goddard LLP and financial advice from Kinmont.

As Steve Madden prepares to lace up its latest acquisition, all eyes will be on whether the footwear powerhouse can seamlessly integrate Kurt Geiger and leverage its international appeal to fuel future growth.