Steve Madden, the noted fashion executive associated with the criminal activities portrayed in the book and film *The Wolf of Wall Street*, is set to acquire the UK-based footwear and accessories brand Kurt Geiger for £289 million in cash.
Madden’s publicly traded company announced that it has entered into a definitive agreement to purchase the London-headquartered brand—also the parent of Carvela—from a consortium led by Cinven, the private equity firm that had acquired Kurt Geiger for £245 million in 2015. The transaction is anticipated to close by the end of 2025.
Steve Madden expressed that acquiring Kurt Geiger is “one of the great accomplishments” of his career, stating, “The brand continues to thrive year after year, and the chance to collaborate with them excites me. I can’t help but feel a rush just thinking about it.”
Madden, who founded his footwear company in 1990, served 31 months in prison due to his involvement in securities fraud and money laundering associated with Stratton Oakmont, which managed his company’s public offering. The questionable activities of the financial firm, established by Jordan Belfort and Madden’s childhood friend Danny Porush, were depicted in Martin Scorsese’s adaptation of Belfort’s memoir, *The Wolf of Wall Street*.
After his release, Madden transformed his business into a thriving fashion brand, acquiring other labels like Dolce Vita, Betsey Johnson, and ATM Collection.
Kurt Geiger began in 1963 as a high-end footwear shop on London’s Bond Street and was once part of Mohamed Al Fayed’s retail empire, formerly the owner of Harrods. In recent years, the brand has diversified into handbags, swimwear, hats, and sunglasses, achieving substantial international success and increasing its US sales from £10 million to £140 million over the last four years. It operates over 70 stores, predominantly in the UK and US, and sells through online platforms and department stores.
In the last year, Kurt Geiger reported a 34% rise in underlying profits to £40.4 million, with total sales climbing nearly 10% to £361 million.
Neil Clifford, the CEO of Kurt Geiger, commented, “We are immensely proud of the advancements our team has achieved over recent years in establishing Kurt Geiger London as a globally recognized fashion label.
While our growth over the past years has been extraordinary, we believe we are just at the beginning of our expansion journey, with significant opportunities still ahead. With its global infrastructure and established success in nurturing and growing its brands, we feel that Steve Madden is the ideal strategic partner to help us achieve our full potential.”
