Kurt Geiger profits soar under new ownership

Footwear retailer Kurt Geiger has reported that since new owners took over eight months ago, its profits have doubled.

The British chain’s EBITDA for the year to December 31st shot up to £20.4 million, while operating profits soared by 50% to £22.3 million.

Turnover was also up 10% year-on-year to £281.6 million.

Private equity group Cinven bought Kurt Geiger in February, making it the retailer’s third change of ownership in four years.

There are more than 70 Kurt Geiger stores in the UK and overseas and over 170 shop-in-shops in department stores globally.