Retail investor Alteri Investors is reportedly in talks to acquire Kurt Geiger from private equity firm Cinven.
- Discussions between Alteri Investors and Cinven are at an early stage and not exclusive.
- Cinven has been looking to sell Kurt Geiger since October 2023, with a valuation of £400 million.
- Alteri Investors previously had a stake in Missguided, selling it to Frasers Group, and Missguided was later acquired by Shein.
- Kurt Geiger has reported record sales despite challenging economic conditions.
Retail investor Alteri Investors is reportedly in discussions to acquire the footwear and accessories brand Kurt Geiger from its current owner, private equity firm Cinven. These talks, reported by Sky News on 28th September, are at an early stage and are not being conducted exclusively with Alteri, allowing for the possibility of other bidders.
The journey towards a sale has been ongoing for Kurt Geiger since Cinven appointed Bank of America in October 2023 to manage the auction of the brand. At that time, Kurt Geiger was valued at approximately £400 million. This move was anticipated following prolonged speculation about the brand’s market position and future ownership.
Alteri Investors, backed by Apollo Investment, has a history in the fashion retail sector. From December 2021 to June 2022, they held a 50% stake in Missguided, a fast fashion e-tailer which was later sold to Frasers Group for £20 million. Subsequently, in October 2023, the brand was acquired by Shein, marking a significant turnover in ownership within a short time frame.
Despite the challenging economic landscape, Kurt Geiger has reported record sales. This performance highlights the brand’s resilience and strong market presence, which are critical factors for potential investors considering an acquisition.
Alteri Investors have not commented on the potential acquisition, and Cinven has been contacted for further statements. As the situation develops, industry stakeholders are closely watching the unfolding negotiations and the potential impact on the fashion retail sector.
The potential acquisition of Kurt Geiger by Alteri Investors remains in discussion, reflecting ongoing shifts within the fashion retail industry.
