// Kurt Geiger bags £150m funding deal
// The fashion retailer will use the capital to extend its international presence
Kurt Geiger has set its sights on expanding into the US and Europe after securing a funding deal, estimated to be valued at £150m.
The retailer has signed an agreement with Wells Fargo Capital Finance and Blazehill Capital to refinance its debt as it looks to bolster its international arm.
Kurt Geiger, which is owned by private equity giant Cinven, has been expanding its presence overseas in recent months and signed wholesale partnerships with US retailers Dillard’s and Nordstrom.
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Chief financial officer Dale Christilaw said: “We found working with the Blazehill Capital and Wells Fargo teams seamless and easy.
“The combined facilities will provide significant flexibility to accelerate our expansion across North America and Europe. Big thanks to all involved.”
Kurt Geiger reported a 21.9% year on year rise with sales totaling £234.3m for year ended 29 January 2022, accelerated by strong international growth in its wholesale business across its international markets in the US and Europe.
Wells Fargo Capital Finance UK origination director Tayyib Chowdhry said: “We’re delighted to have provided an upsized credit facility to enable the team at Kurt Geiger to accelerate an already compelling growth trajectory, globally.
“We’re especially pleased to have structured a flexible financing solution at this exciting period when the business has such positive and sustained momentum.”
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