Inactive Instrument

Coach Inc Nyse

Equities

COH

US1897541041

Apparel & Accessories Retailers

Coach : Cinven to buy British shoe company Kurt Geiger in 245 million pound deal

December 14, 2015 at 10:58 am EST

LONDON (Reuters) - Buyout house Cinven [CINV.UL] is to buy London-based shoe company Kurt Geiger as it seeks a share of Britain's 8 billion-pound footwear market, the private equity firm said on Monday.

Following an auction of the business, Cinven will pay 245 million pounds including debt for the company, a source familiar with the matter said, noting the deal valued the business at eight times its trailing core earnings (EBITDA).

Founded in 1963, Kurt Geiger is known for its glamorous footwear. Its current "face" is supermodel Lara Stone.

It was previously part of the Jones Group, which was delisted by Sycamore Partners for $2.2 billion (£1.4 billion) including debt in 2013. In January Coach (>> Coach Inc) bought the Jones Group's Stuart Weitzman, the shoe firm.

The acquisition of Kurt Geiger is the latest in the shoe sector. In 2014 Labelux listed Jimmy Choo (>> Jimmy Choo PLC), while Permira [PERM.UL] bought the maker of Dr Martens the year before.

(Reporting By Freya Berry; Editing by Susan Fenton)

Stocks treated in this article : Coach Inc, Jimmy Choo PLC

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Company Profile

Tapestry, Inc. is a global house of luxury accessories and lifestyle brands. The Company's brands include Coach, Kate spade New York, and Stuart Weitzman. The Company operates through three segments: Coach, Kate Spade and Stuart Weitzman. The Coach segment includes global sales of Coach products to customers through Coach operated stores, including e-commerce sites and concession shop-in-shops, and sales to wholesale customers and through independent third-party distributors. The Kate Spade segment includes global sales primarily of kate spade new york brand products to customers through Kate Spade operated stores, including e-commerce sites and concession shop-in-shops, sales to wholesale customers, and through independent third-party distributors. The Stuart Weitzman segment includes global sales of Stuart Weitzman brand products primarily through Stuart Weitzman operated stores, sales to wholesale customers, through e-commerce sites, and through independent third-party distributors.

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Apparel & Accessories Retailers

Calendar

2024-05-09 - Q3 2024 Earnings Release

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