Steve Madden, notorious for his past criminal affiliations depicted in 'The Wolf of Wall Street,' is acquiring UK brand Kurt Geiger for £289 million. This London-based company, known for its upscale footwear and accessories, has seen rapid growth since its acquisition by private equity firm Cinven in 2015. Madden called this purchase a thrilling opportunity and has previously turned his company into a successful brand after prison, having included other acquisitions like Dolce Vita and Betsey Johnson. Kurt Geiger aims at further expansion and has reported a healthy profit growth of 34% last year.
Steve Madden described the acquisition of Kurt Geiger as one of the great accomplishments of his career, highlighting his excitement to collaborate with the brand.
Kurt Geiger, founded in 1963, has seen significant growth recently, expanding its product offerings and increasing US sales from $10 million to $140 million over four years.
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