Kurt Geiger steps steady into festive mood: record sales

Tuesday, 24 December 2013
Kurt Geiger, the UK’s second-largest shoe retailer, has stepped into the festive-run up in the best of fashions, recording a year-on-year increase of 18 percent in the four weeks to date. Boots were the main reason for the stellar performance, according to the retailer.

“Our luxury business has had a great year, London is the place to shop and shoes are back as the must have accessory,” Chief executive Neil Clifford said.

Sales for the year to date are up 9 percent to 230 million pounds, helped by a 21 percent increase overseas.

Performance at the UK second largest retailer has been boosted by a surge in the sale of boots, according to the company, which expect to sell 150,000 pairs in December alone. Kurt Geiger expects to sell up 60 percent more of these best-seller items by the end of this month across its 250 stores and website.

Record pre-Christmas sales for Kurt Geiger

“Our boot collection of over 500 styles is probably the best we have ever done,” Kurt Geiger’s CEO reminded. B Series range of stilettos launched to mark its golden anniversary this year has proved to be a good motor for sales too.

Kurt Geiger said online orders were also booming, up 90 percent year-on-year. The web has also been a game changer for shoe retailers, the perfect way to buy shoes, on the sofa with a glass of wine,” Clifford stressed when commenting the results.

Earlier in December, US-based Jones Group, was bought by private equity firm Sycamore for 1.2 billion dollars or 730 million pounds. The deal is expected to be sealed in the second quarter of 2014, valuing the US retail group at 15 dollars apiece.

Jones Group owns brands such as Kurt Geiger, Stuart Weitzman, Jones New York apparel, Anne Klein and Gloria Vanderbilt. The retail group went into sale earlier this year when Barington Capital Group, which took a stake in the group in spring, increased the pressure on the company to sell off the less profitable brands.