Alteri in talks to acquire Kurt Geiger footwear brand

Alteri Investors, a former owner of Missguided, is currently in discussions to acquire Kurt Geiger, a well-known footwear and accessories brand. This potential takeover is part of a broader auction process overseen by Bank of America, which was initiated by Cinven, the current owner since 2015. The brand, founded in 1963, has a strong celebrity following, including stars like Kylie Jenner and Jennifer Lopez, and is aiming for significant expansion in the U.S. market. Recent financial results indicate a recovery, with a 10% increase in sales and earnings of £40.4 million on revenues of £360 million, aligning with pre-Covid performance. The talks with Alteri are at an early stage, with multiple parties also interested in bidding for the brand, which is expected to fetch around £400 million in the auction process. The outcome of these discussions could significantly impact Kurt Geiger's future direction and growth strategy, particularly in the competitive luxury goods market.