Expanding its brand’s international presence, footwear brand Steve Madden has acquired UK-based luxury brand Kurt Geiger for £289 million (approximately $360.09 million) in an all-cash transaction.

Owner of brands like Dolce Vita and Betsey Johnson, New York-based Steve Madden plans to purchase Kurt Geiger from private equity firm Cinven. Kurt Geiger's portfolio includes the KG Kurt Geiger and Carvela brands, sold in luxury and premium department stores such as Harrods and Selfridges.

Expected to close in Q2, FY25, the deal will be funded through a combination of existing cash reserves and debt. Kurt Geiger generated revenues worth £400 million for the 12 months ending February 1, 2025. On the other hand, Steve Madden's 2024 revenue is projected to reach $2.25 billion, according to LSEG data.

The company previously outlined plans to diversify its product sourcing away from China following the outcome of the US presidential election.