Kurt Geiger reports double-digit growth in annual turnover and EBITDA

Kurt Geiger Limited reported an impressive year of financial performance for the period ended 1 February 2025, achieving double-digit growth in both turnover and EBITDA. Total net turnover increased by 10 percent to 372.8 million pounds. This growth was complemented by an even stronger rise in EBITDA , which increased by 16.1 percent to 43.2 million pounds, the highest in the company's history.

The company's core activity remains the design, distribution, and retailing of shoes and accessories. Key drivers of this success included strong growth in its international business, particularly the North American market, across both its digital and wholesale channels, and the performance of its proprietary own brands, such as Kurt Geiger London. The operating profit for the year was 23.4 million pounds and the total comprehensive income after taxation amounted to 27 million pounds.

Despite the positive top-line performance, the total gross margin saw a slight decrease to 54.5 percent versus 55 percent in 2024, attributed to changes in divisional and brand sales mix and higher inflationary pressures on supply chain costs.

The company continued its strategy of international expansion, opening four new free-standing stores in the USA, with two more under construction, including the first Outlet store.

The financial period was immediately followed by a pivotal corporate event. On February 12, 2025, Steve Madden Limited acquired Kurt Geiger 289 million pounds. The acquisition was completed on May 6, 2025. Crucially, as part of this transaction, the outstanding long-term external financing facilities, including a 90 million pounds Asset Back Loan and a 25.4 million pounds term loan, were settled or waived.

Going forward, the board is confident for the future, with key priorities including further expansion of the North American bricks and mortar estate and integration with the new ultimate owner to deliver operational efficiencies and financial synergies.