Kurt Geiger gave a strong performance in its latest financial year, ended on Jan. 27. The British high-end retailer's revenues were down by 3.9 percent to £324.58 million (€367.0m-$417.0m), but this was only because the previous financial year covered 13 months, thanks to a change in the financial calendar. Excluding this extra month, they rose by more than 4 percent, despite a difficult retail environment in the U.K. owing to the squeeze on household budgets and Brexit.
The company's operating profit reached £24.6 million (€27.8m-$31.6m), up from £20.59 million in the previous 13-month period.
Although the company is in good shape, an analyst at Global Data quoted by Fashionnetwork expressed a worry that the company is too reliant on department stores, which have been struggling in the mass mid-market segment. However, the upside is that the company isn't only looking at the U.K. market, but is also partnering with major U.S. department stores such as Nordstrom, Bloomingdale's and Dillard's.
Earlier this year, the London-based shoe label announced plans to expand into the German market, launching its autumn/winter shoe collection in August with a few selected retailers. The KaDeWe department store in Berlin as well as Zalando, the big German online retailer, are also among Kurt Geiger's first German retail partners. It has just opened a pop-up store in KaDeWe.
Named after an Austrian entrepreneur who opened two shoe stores on London's Bond Street and Sloane Street in 1963, the company has been owned by a British investment fund, Cinven, since December 2015, after many changes of control. Today the company manages more than 70 stores and works together with more than 200 retail partners worldwide. It also operates more than 170 concessions within department stores, especially in the U.K. The label offers shoes for men, women and children as well as accessories.