British shoe retailer Kurt Geiger is one of the most well known names when it comes to footwear and those stuff that you tie around your heels. Well, the British have always been a stiff upper lipped lot, but this time around, the British retailer seems to have developed a stiff feet as well. The upscale retailer was purchased by Jones Group Inc and now they plan to increase its foothold in the international market.
The deal was worth about $350 million and that also includes about $100 million debt that the retailer had. This is no surprise as most footwear and shoe companies are being bought by companies that have got nothing to do with footwear. Most jimmy Choo fans were disappointed when they learned that the luxury footwear company Jimmy Choo was purchased by Labelux from TowerBrook Capital Partners LP. Jones also owns Nine West and Stuart Weitzman and they plan to strengthen the brand with the latest acquisition.
This could be one of the best ways to make sure that the company gets to make its presence felt in the markets abroad and it would be quite soon that we start seeing Kurt Geiger shoes in cities like Paris, Tokyo and New York. I would say, you would just need to keep your foot down, and wear the best pair! You could also read about how Hong Kong is the new luxury goods destination, and how Luxury Market is rebounding. Go ahead, and wear something nice on your feet today and show it to the world!
Via: Reuters
