British footwear and tools retailer Kurt Geiger has reported doc shopping for and promoting over the festive interval and “booming improvement” in North America, the place sturdy H1 figures current extreme double-digit US improvement boosted by the opening of outlets throughout the US and Mexico.
With the help of celeb followers, along with Kylie Jenner, Olivia Rodrigo, Rihanna and Paris Hilton, Kurt Geiger states that North America is its fastest-growing and largest market. From 2018 until now, product gross sales have grown 100-fold, from 2.5 million to 250 million kilos / 3.1 million to 318 million US {{dollars}}.
The London-based footwear and tools mannequin moreover believes its success is due to offering an “accessible British spark,” as its merchandise present daring styling with out breaking the monetary establishment. The mannequin’s most in-demand purse is the Kensington, which begins at 169 kilos / 195 US {{dollars}}.
Neil Clifford, chief authorities of Kurt Geiger, said in an announcement: “We’re going huge in North America. Seeing our improvement throughout the space, we contemplate our creative and social spirit and our statement-making varieties aren’t just for Londonphiles. We love the considered Kurt Geiger being a worldwide conduit of London’s common tradition scene.”
Following the mannequin’s announcement in August 2024 reporting income will enhance up 25 p.c to 40 million kilos / 50 million US {{dollars}} for the entire 12 months 2023, new figures launched at current, January 15, reveals that improvement throughout the first half of 2024 has outpaced expectations, accelerating at substantial velocity.
North America is Kurt Geiger’s fastest-growing and largest market
Inside the US alone, the place Kurt Geiger is located in retailers resembling Bloomingdales, Nordstrom, and Dillards, product sales surged by 58.7 p.c to exceed 110 million kilos / 134 million US {{dollars}} from February to September, with its e-commerce and wholesale corporations rising by 94.4 p.c and 50.9 p.c respectively all through the similar interval.
This was boosted extra all through the holiday season, with December 2024 delivering 17 p.c improvement in direct-to-consumer DTC – turning into by and far primarily probably the most worthwhile month throughout the mannequin’s 62-year historic previous. This recording-breaking festive season was credited to a 54 p.c improvement in purse product sales.
Progress in North America is being boosted with the start of Kurt Geiger’s retail progress with the mannequin having 5 new brick-and-mortar areas in New York, Los Angeles, San Diego, throughout the US and in Mexico Metropolis and Queretaro in Mexico.
These new outlets adjust to 4 pre-existing boutiques in Mexico and the opening of Kurt Geiger’s Orlando outpost throughout the Mall at Millenia, which had its ribbon-cutting in early 2024 and is already shopping for and promoting 25 p.c ahead of the mannequin’s most formidable projections.
Kurt Geiger opening new outlets in Miami, Houston and New York in 2025
With improvement currently throughout the space, Kurt Geiger has plans for five new areas in North America for early 2025, along with Miami, Houston and New York, with 50 deliberate for the realm in entire. Each retailer will carry the mannequin’s full fluctuate of sneakers, baggage and additional tools, resembling jewellery and shades.
These new outlets and any others transferring forward will showcase Kurt Geiger’s design concept from its 3,000 square-foot Oxford Avenue flagship retailer in London, which opened in September 2023. The retail concept envisioned by the mannequin’s chief creative officer Rebecca Farrar-Hockley choices rainbow-hued glass organized in diamond or lattice-like grids, along with illuminated classic brass shelving, eccentrically fringed components and a quintessential English floral print, leaning into Kurt Geiger’s “penchant for creativity,” and its irreverent London spirit.
Farrar-Hockley, added: “Our designs aim to ship a means of delight, individuality, and accessibility to our purchasers, which has truly resonated proper right here throughout the Americas.
“From our assertion heels to the long-lasting Kensington bag, each product is crafted to empower with confidence and creativity. This space’s embrace of our daring, London-inspired trend speaks to the frequent enchantment of vibrant, expressive vogue, and we’re thrilled to see Kurt Geiger flip into a part of frequently wardrobes all through North America and previous.”
Kurt Geiger, owned by London-based private equity company Cinven since 2015, consists of producers for ladies, males and kids – Kurt Geiger London, KG Kurt Geiger, Carvela and Shoeaholics.com. The company has larger than 60 outlets, a worldwide e-commerce web page and a rising purchaser base all through North America, Europe, the Heart East, China, and Australia.