Kurt Geiger bags huge profits
By Laura Enfield | 1st November 2023
Business is booming at Kurt Geiger thanks to its rainbow array of handbags and shoes.
The British fashion brand has 'bagged' sales of £329.5m, a 31% increase or the year to January 28 and seen profits rise almost 50% to £30m.
Handbag sales hit a record £91.6m, an uplift of 72% compared to the previous year, amid a year of "impressive growth and international success".
Shoes make up less than 50% of sales in the UK as it has expanded into jewellery and swimwear.
The brand opened its first boutique in London in 1963, and this year celebrates its 60th anniversary.
Today it has more than 80 shops in the UK, opening 12 in the past year, including its new 2,916sq ft Oxford Street flagship store.
It also opened three shops in Mexico and has plans for six in the US and more in Europe in the next 12 months.
Neil Clifford, Kurt Geiger chief executive, said: "We are now recognised as a truly global accessible luxury accessories brand."
Last month Sky News reported that Cinven, owner of the brand since 2015, is working with advisors at Bank of America on a prospective £400m sale of the company.
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