Blog: Kurt Geiger a good fit for Jones Group
Leonie Barrie | 3 June 2011
A $350m takeover deal inked yesterday between US fashion giant Jones Group, and UK-based luxury shoe retailer Kurt Geiger, promises to be a win-win for both firms.
In particular, it positions New York-listed Jones, which already manages 35 brands including Nine West and Stuart Weitzman, with one of the world's most powerful portfolios of fashion footwear. Kurt Geiger, which has 49 UK stores and 156 concessions, is a perfect foothold from which Jones can expand its international footprint – and with one fell swoop increases its global penetration to just below 20% of net revenues.
It also extends Jones' reach into the designer footwear business. Not only does Kurt Geiger have over 100 luxury brands in its portfolio, including Kurt Geiger, Carvela and KG, but it also has a presence in leading department stores, such as Harrods and Selfridges. Indeed, the plans are for Kurt Geiger to serve as Jones' hub in Europe.
And of course there are the all-important synergies, especially when it comes to leveraging the combined networks of partners, infrastructure and department stores to expand distribution worldwide. The relationship works both ways too, with plans being mooted to launch Kurt Geiger's brands in the US.
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