Ibus Express

The British brand's annual sales jumped 10% to £360 ($446) million in the year to February '24, thanks to rising global demand for its 'affordable luxury' handbags – now Kurt Geiger's biggest-selling products. The fashion business founded in London in 1963 is also becoming one of the fastest-growing fashion brands in North America, with the US having quickly become its largest market. From 2018, gross sales in North America have grown 100-fold, from £2.5m ($3.1m) to £255m ($318m) today.

Its FW24 campaign starring Emily Ratajkowski, introduces Kurt Geiger's newest design, the Chelsea collection, named after the West London area where London's fashion scene was established in the Sixties on the King's Road. This project signals the continued evolution and stellar growth of Kurt Geiger, as the British designer launches a new classic for its fast-growing customer base.

Kurt Geiger's thriving handbag business enjoyed record sales of £115.6 ($143) million during 2023. With an average price of £250 ($295) for its signature leather handbags, the brand's focus on highly differentiated design with unparalleled value for the customer has seen Kurt Geiger's performance stand out from the crowd – against both rising pricing across the sector and despite a backdrop of weakening global consumer demand.

Trading since the year end has seen growth strengthen further, with Kurt Geiger's brand sales being ahead by 35% between February and June '24 globally. Denim products across both handbags and footwear were some of the most popular, buoyed by demand for Western and Americana themed products.

The British business, founded in 1963, is particularly hot in the US. In just the last five years, it's drawn a bevy of celebrity fans including Kylie Jenner, Julia Roberts, Jennifer Lopez, Viola Davis, Eva Longoria, Paris Hilton, and Afiya Bennett. Kurt Geiger's US website almost doubled revenues to £29 ($36.5) million in the year to February 2024.

In the last five months turnover has grown by 104% in America alone. The accessories label is now expanding its retail footprint across the US, having opened its first store in Orlando in May, with three new store openings inked this Fall - in New York, Los Angeles, and San Diego. The brand targets 50 American stores in the coming years.

When asked about the secret to Kurt Geiger's success, Neil Clifford, CEO of Kurt Geiger, said: "Quite simply... we stand out from the crowd! Our brand has unique design aesthetic – fun, colourful and instantly recognisable. That, combined with a strong British DNA and an incredible value proposition – we've filled a white space with bold, maximalist silhouettes at an affordable price point. 2024 is on track to smash all of our most ambitions predictions – with our global footprint growing exponentially, driven by handbags... now our largest product category in all markets. Not bad for an independent British brand, operating against a pretty tough economic back drop!"

Kurt Geiger enjoyed the most profitable month in its history during the holiday season, with a 15% rise in sales to £45 ($57) million during December 2023 alone. It has heavily invested in sustainable success, opening eight new stores in the UK during the year, led by Kurt Geiger's gleaming 3000 sq ft global flagship on Oxford Street, London. The store has exceeded all sales predictions since opening in October, leaving it on course to be the brand's most-profitable shop in its history.

Kurt Geiger also has a strong presence in global department stores including Bloomingdales and Nordstrom in the US, Harrods and Selfridges in the UK, and France's Galeries Lafayette. Kurt Geiger's kaleidoscope tunnel of stained glass window panes in gold, bubblegum pink and cerulean dominated the atrium of Galeries Lafayette's Champs-Élysée branch this Spring.

The accessory label's corporate success means Kurt Geiger has now donated more than £1.5 ($1.9) million to its Kindness Foundation, set up in September 2022 to donate a percentage of each sale to charities supporting young people in creative industries. This year it has launched its Business by Design academy, a ground-breaking free education scheme for young Londoners.

Kurt Geiger has been owned by London-based private equity firm Cinven and the management team since 2015.

FY 2023/24 HIGHLIGHTS

•Total Company Net Turnover Growth: £31m/$38m/9.4% (£360.6m/$447.1m vs £329.5m/$408.6m)

•Total Company EBITDA Growth: £10.3m/$12.8m/34.4% (£40.4m/$50.1m vs £30.1m/$37.3m)

•Wholesale Shipments Growth:

£21.3m/$26.4m/30.4% (£91.4m/$113.3m vs £70.1m/$86.9m)

•Wholesale Shipments to NA Growth: £24.9m/$30.9m/50.0% (£74.6m/$92.5m vs £49.8m/$61.8m)

•KurtGeiger.us Net Turnover Growth: £14.1m/$17.5m/92.8% (£29.3m/$36.3m vs £15.2m/$18.8m)

•Own Brand Sales Growth:

£37.7m/$46.7m/9.5% (£231.1m/$287m vs £193.4m/$239.8m)

•Opening of new Oxford Street flagship store with new International design concept. Trading ahead of budget.

YTD 2024/25 TRADING HIGHLIGHTS

•Total Company Net Turnover Growth: 21.3%

(45% Handbag growth)

•Wholesale Shipments Growth: 38.1%

•Wholesale Shipments to NA Growth: 48.1%

•KurtGeiger.us Net Turnover Growth: 104%

•Own Brand Sales Growth (DTC): 35%

•Opening of 1st US DTC Store (Orlando). Trade has been 25% ahead of plan, with an additional 3 US DTC Stores to open in Q4 this year

•Locations under negotiation 5 more stores planned to open next in for next year, with a plan to open a total of 50 stores in USA.

LINK TO PRESS KIT

INCLUDES:FINANCIAL TRADING RELEASECAMPAIGN RELEASECAMPAIGN IMAGERY

PRESS CONTACTS

[email protected] | Vice President, Public Relations

ABOUT KURT GEIGER

Kurt Geiger is a leading London-based footwear and accessories brand powered by creativity and kindness. For over fifty years, Kurt Geiger's in-house team of shoe and accessory designers have endeavoured to embolden customers through statement styles underpinned by London's vibrance and authenticity. Its ultimate mission to create a kind, diverse and inclusive fashion community propels the regular launch of kindness-driven initiatives supporting people, charities, and global movements. Kurt Geiger's owned brands for women, men and children consist of Kurt Geiger London, KG Kurt Geiger. The company has over 60 stores, 15 boutiques worldwide, a global site kurtgeiger.com and a growing customer base across North America, Europe, Middle East, China, and Australia.