European private equity group Cinven has bought Kurt Geiger for an undisclosed sum. Under the new ownership, Chief Executive Neil Clifford, Creative Director Rebecca Farrar-Hockley and Chief Financial Officer Dale Christilaw will remain in place under the new ownership. Cinven is their third owner in four years.
The footwear retailer increased turnover by 15.4% to £251.8m for the year ended December 31, 2014, while operating profit increased 277.8% to £11.2m. Gross profit was up 15% to £133m for the period and EBITDA increased 42% to £21.3m.