Travers Smith, Foley & Lardner, Addleshaw Goddard and Freshfields were advisors on US fashion company Steve Madden’s acquisition of UK luxury brand Kurt Geiger from private equity firm Cinven in a deal worth £289m. 

Steve Madden was advised by Travers Smith in the UK and Foley in the US. Freshfields advised Cinven and Addleshaw Goddard advised Kurt Geiger. 

Steve Madden will fund the transaction with committed debt financing and cash. The transaction is expected to close in the second quarter of 2025, subject to regulatory clearance and other closing conditions.

Company founder Steve Madden said: “When I started this company in 1990, I never dreamed we would be where we are today. Owning Dolce Vita, one of the most talked about brands in America, Betsey Johnson and ATM Collection, and now being able to partner with Kurt Geiger, is one of the great accomplishments of my career. The brand is doing better and better every year, and the opportunity to collaborate with them is thrilling. I get goosebumps just thinking about it.”

Neil Clifford, CEO of Kurt Geiger, added: “We couldn’t be prouder of the progress our team has made over the last few years in building Kurt Geiger London into a globally recognisable fashion brand. It’s been gratifying to see how consumers have responded to our unique design aesthetic and strong British DNA. 

“While we’ve delivered remarkable growth in recent years, we believe we are in the early stages of our growth journey, with significant expansion opportunities available to us. With its global infrastructure and proven track record of supporting and growing its brands, we believe Steve Madden is the right strategic partner to help us reach our potential.”

Foley’s US transactions team was led by partner Jonathan Witt, senior counsel Arthur Vorbrodt, and associate Grace Fucci with support from partners Alan Rutenberg and Louis Wahl and senior counsel Maximilian Traut and Neda Sharifi

The cross-practice Travers Smith team 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 and commercial transactions partner Richard Brown, head of competition Stephen Whitfield, and finance partner Will Sheridan. 

The transatlantic Freshfields team was led by private capital partner Victoria Sigeti and senior associate Angus Scott, with associates Nick Surgey, Fletcher Boswell and Alison Li. Partner Michael Levitt provided advice on US corporate matters. Advice on financing was provided by partners Christopher Davis and Denise Ryan. Partners May Smith and Joe Soltis advised on tax matters, and partners Martin McElwee and Jenn Mellott and senior associate Aaron Green advised on antitrust. Partners David Mendel and Heather Brookfield advised on employment matters.

This transaction carries on Freshfields’ long-standing relationship with Cinven, having recently advised the private equity firm on its funds’ investments in Grant Thornton UK, Finaxy, Vitamin Well, idealista and Fressnapf, and on the sale of a majority stake in Petfood.

The Addleshaw Goddard team included partners Mike Hinchliffe and Marc Field, managing associate Gerry Kelly, associate Francesco Rosso, tax and structuring director Catherine Concannon and boardroom advisor Alasdair Simpson.

Steve Madden designs, sources and markets footwear, accessories and apparel. In addition to marketing products under its own brands including Steve Madden, Dolce Vita, Betsey Johnson, Blondo and ATM, the company licenses footwear, handbags and 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 UK, including Harrods and Selfridges, where it sells its own and third-party brands. For the 12 months ended 1 February, Kurt Geiger had estimated revenue of approximately £400m.

Originally founded in 1977 within the British Coal pension schemes, Cinven is an international private equity firm, managing capital on behalf of more than 500 investors globally.