Shoe chain Kurt Geiger sold for €240m

Kurt Geiger – Europe’s largest luxury shoe retailer – was sold for about €240m today to a prominent American fashion business.

Jones Group, a New York-headquartered firm which owns fashion brands such as Nine West, has bought Kurt Geiger from London-based private equity firm Graphite Capital.

Kurt Geiger, which was bought by Graphite for €107m in 2008, was established in 1963 and now operates from more than 200 locations worldwide, including 49 stores and 156 concessions in department stores such as Harrods.

The takeover is the latest move in the fashion and luxury goods sector – last week shoe designer Jimmy Choo was bought by investment firm Labelux – as buyers look to tap into fast-growing consumer markets in Asia.