Beloved in the UK, the last 15 years has seen footwear giant Kurt Geiger on a wild ride of ownership changes, reflecting the turbulent nature of the fashion industry and the challenges of growing a mid-luxury brand in a rapidly evolving retail landscape. The acquisition by Steve Madden in February 2025 marks yet another chapter for the UK-based footwear and accessories brand, but it raises the question: Why has Kurt Geiger been bought and sold so many times?

Since 2010, Kurt Geiger has changed ownership multiple times. It was acquired by The Jones Group (then known as Jones Apparel Group) for around 215 million pounds in 2011 from Graphite Capital. Just three years later, the brand was sold to private equity firm Sycamore Partners in 2014, which then offloaded it to Cinven in 2015 for an estimated 245 million pounds. Now, in 2025, Kurt Geiger is being sold again—this time to Steve Madden for 289 million pounds.

So why all the flipping of ownership? One key reason is the challenge of sustaining consistent growth in a highly competitive space. Kurt Geiger has long been a respected name in the UK and Europe, but cracking the international market—especially the U.S.—has proved tricky. With each new buyer, there’s been a fresh strategy, a new focus, and ultimately, a struggle to hit ambitious growth targets.

The brand has also been sold for less than its purchase price and investment in several cases, a result of volatile market conditions, supply chain issues, and the broader retail sector’s shift to digital. The pandemic, in particular, hit brick-and-mortar fashion retailers hard, forcing many to scale back their operations. Even strong brands like Kurt Geiger could not fully escape these pressures.

Steve Madden’s acquisition, however, may offer some hope for stability. Known for its expertise in fast-paced fashion footwear and deep understanding of the North American market, Steve Madden is well-positioned to expand Kurt Geiger’s global presence. This partnership could finally give the brand the resources and focus it needs to thrive in the long term.

Will this be the final stop in Kurt Geiger’s ownership shuffle? Time will tell. But one thing’s clear: the brand’s appeal has kept investors coming back, even amid uncertainty.