Kurt Geiger puts best foot forward with plan for £400m sale

The upmarket shoe retailer Kurt Geiger is being groomed for a £400m sale by its private equity backers.

Sky News has learnt that Cinven is working with advisers at Bank of America on a prospective auction of the brand.

City sources said on Tuesday that a sale process was expected to begin in the coming months, with interest anticipated from luxury goods groups and other buyout firms.

Kurt Geiger, which was founded in 1963, has been owned by Cinven since 2015.

Previously backed by Sycamore Partners, another private equity group, the brand is targeting significant expansion in the US through a chain of standalone stores.

To mark its 60th anniversary, its long-serving chief executive, Neil Clifford, recently announced plans to establish a design academy for young people to embark on careers in the fashion industry.

Mr Clifford has run the business for the last two decades.

More from Business

Earlier this year, it announced a £150m debt deal to fund its international expansion and refinance existing borrowings.

In the UK, Kurt Geiger’s shoes have been sold at department stores including Harrods and Selfridges for years.

Cinven declined to comment.