Travers Smith advises on acquisition
Travers Smith has advised Steve Madden (Nasdaq: SHOO), a leading designer and marketer of fashion footwear, accessories and apparel, on a definitive agreement to acquire UK-based Kurt Geiger from a group led by Cinven for an enterprise value of approximately £289m in cash
The cross-practice Travers Smith team on this transaction was led by Corporate Partner Jon Reddington, supported by Corporate Partner Jonathan Walters, Senior Associate Fabian McNeilly and Associates Jonathan Fritz and Mapa Madhawa, and Trainee Zaeem Hoque. Specialist advice was provided by Tax Partner Hannah Manning, Technology & Commercial Transactions Partner Richard Brown, Head of Competition Stephen Whitfield and Finance Partner Will Sheridan.
Steve Madden designs, sources and markets fashion-forward footwear, accessories and apparel. In addition to marketing products under its own brands including Steve Madden®, Dolce Vita®, Betsey Johnson®, Blondo® and ATM®, Steve Madden licenses footwear, handbags and certain accessories for the Anne Klein® brand. In addition, Steve Madden designs and sources products under private label brand names for various retailers.
In addition to Kurt Geiger London, Kurt Geiger’s brand portfolio includes KG Kurt Geiger and Carvela. Kurt Geiger also operates footwear concessions within luxury and premium department stores in the United Kingdom, including Harrods and Selfridges, where it sells both its own and third-party brands.
Travers Smith worked closely with Foley & Lardner LLP in advising Steve Madden on this cross-border transaction, which is anticipated to close in the second quarter of 2025, subject to the receipt of required regulatory clearance and other customary closing conditions.