Kurt Geiger

Graphite Capital acquired Kurt Geiger, a leading footwear retailer and distributer in February 2008, backing a high quality team to exploit opportunities created by the approaching downturn.

Kurt Geiger had arrangements with UK and international department store chains, managing all aspects of their shoe departments through a technology led outsourced service. In addition, the business operated UK high street and airport stores under the Kurt Geiger brand. Further distribution was achieved through an award winning website business and a number of wholesale and licensing agreements in the UK and internationally.

The transaction offered the opportunity to grow both nationally and internationally across all distribution channels. In the UK, the business had developed a successful own-store model which could be rolled out to other locations. The category management for department stores offered further scope for growth. Major emphasis was placed on international expansion, both directly and through franchise.

Key Business Achievements

Opened 25 stores in the UK

Won substantial new business with major department store groups, including Selfridges and Debenhams

Expanded its franchise in the Middle East, Turkey and Russia

Developed a sector-leading internet business, which grew 11 fold

More than doubled sales and EBITDA


Exit Value

Business Exit

In 2011 Kurt Geiger was sold for £215 million to The Jones Group Inc, a listed US apparel business, generating a multiple of 2.6 times cost and an IRR of 33.6 per cent.