Luxury shoe retailer Kurt Geiger has completed a management-led buyout with private equity group Sycamore Partners.
The deal will secure the future of the company.
Neil Clifford, Kurt Geiger CEO said he believed the company had tremendous potential for growth in the UK and internationally. “We will carry on our legacy of offering the most exciting and innovative footwear, bringing the creativity of British design talent to a global audience.”
It was reported by Drapers that a number of its UK stores outside of London would close in 2013. Kurt Geiger did not comment.
The retailer has endured an uncertain time of late and saw its wholesale director Andrew Lee quit in December after six years.
Stefan Kaluzny, a managing director of Sycamore Partners commented: “The company has great potential for growth, and we look forward to working with Neil and the Kurt Geiger team to help position the business for long-term success.”
Since opening its first store on Bond Street, London in 1963, Kurt Geiger has gone on to operate in over 180 concession stores including House of Fraser and Debenhams.