Jones Group acquires European luxury footwear retailer

NEW YORK — The Jones Group has acquired Kurt Geiger, Europe's largest luxury shoe retailer from Graphite Capital, a leading United Kingdom mid-market private equity firm, for approximately $350 million in cash, inclusive of debt acquired.

The acquisition further extends Jones' reach into the designer footwear business through Kurt Geiger's portfolio of high-end brands and presence in leading department stores, such as Harrods and Selfridges.

Kurt Geiger distributes owned brands, including Kurt Geiger, Carvela and KG, and licensed brands, including Nine West, French Connection and Lipsy, in 49 company-operated retail locations and department stores.

In addition, Kurt Geiger operates 156 multi-branded shoe concessions in 14 major department store groups including Harrods, Selfridges, House of Fraser and La Rinascente.

Comments

This is a great step if the

This is a great step if the Jones Group wishes to increase their market share into the luxury footwear business. Though they paid a heft price for Kurt Geiger, perhaps they could recoup their loss if the company does well enough.