Partner Article

Kurt Geiger to open London flagship store following sales boost

Shoe retailer Kurt Geiger is set to open a new flagship store in London after a jump in sales boosted by its Bond & Britton heels and Saffiano handbags, according to The Guardian.

The luxury brand reported a 13% increase in like-for-like sales for the third quarter, taking gross turnover to £210 million, compared with £230m for the whole of last year. A fifth of sales are now made via the internet, following 30% online growth.

The firm has recently branched out into handbags and other accessories such as jewellery, and phone and tablet cases.

The company has credited its sales increase to the launch of the Saffiano leather range with a 50% rise in handbag sales so far this year.

The shoe retailer was bought out by its chief executive, Neil Clifford, and other managers in April with the backing of US private equity house Sycamore Partners, to which it had been sold as part of the Jones Group in a $1.2bn (£750 million) deal.

Clifford said: “Following our management buyout, the company’s new strategic direction has facilitated a renewed focus on growth and international expansion.”

Kurt Geiger has opened 28 stores this year, including 20 in the UK and a flagship store in Milan. It now has 59 independent shops worldwide and 198 department store concessions.

This was posted in Bdaily's Members' News section by Ellen Forster .