Has Kurt Geiger Been Sold?

One big rumor making the rounds at Milan Fashion Week is that shoe retailer Kurt Geiger has been sold. In addition to having its own stores and its own brand, Kurt Geiger also runs the shoe concessions in Selfridges, Harrods and Libertys along with other European stores.

Redburn Partners analyst Lisa Rachal said, "... the line-up of Geiger suitors is ... interesting: wealthy individuals and private equity."

Sources in Milan said only that it was a non-fashion group that sealed the $200 million deal. Back in January, the Telegraph predicted former TV executive Charles Allen would win the deal. Also said to be in the running were private equity firms Graphite Capital, Advent and 3i. Retailer Dickson Poon is said to have passed on the deal.

Another source who has seen the Geiger numbers said the company was only just breaking even due to the costs of opening its own stores. They added that Gucci Group is interested in taking control of its department store concessions and that Selfridges was looking at doing their own shoe buying. Both developments would be a big blow to the Geiger business.