Alteri believed to be mulling Kurt Geiger bid

Alteri Investors, the former owner of Missguided, is reportedly considering a bid for footwear brand Kurt Geiger, making it one of several parties said to be interested in snapping up the British retailer.

The company is currently owned by private equity firm Cinven, which last year appointed Bank of America to oversee an auction process, which according to Sky News has now drawn in a number of interested parties, including luxury goods groups and other buyout firms.

City sources for the media outlet said that early stage talks between Alteri and Cinven were being held over the weekend, yet were not on an exclusive basis. While an exact valuation is currently unclear, banking sources anticipate the retailer could go for around 400 million pounds.

Kurt Geiger is currently on an expansion path, particularly in the US, having last year secured a 150 million pound debt deal to fund such a strategy alongside refinancing existing borrowings.

In its latest financial report, the retailer said that the US had quickly become its largest market, with gross sales amounting to 255 million pounds in 2024, up from 2.5 million pounds in 2018.

In the last five months, meanwhile, turnover in North America alone had grown 104 percent, reaffirming its plans to expand its retail footprint across the region, with three new stores opening this autumn in New York, Los Angeles and San Diego. The company is targeting 50 American stores in the coming years.