Jones Group, which owns fashion labels like Nine West, has acquired Europe’s largest luxury shoe retailer Kurt Geiger in a multi-million pound deal.
Private equity firm Graphite Capital sold the high-end shoe retailer to the Jones Group for £215m.
Graphite originally bought Kurt Geiger for £95m in 2008.
READ OTHER TOP STORIES IN THE WDM CONTENT NETWORK:
Does Marks and Spencer need a makeover?
Mobile Shopping: Hottest trend of the decade
Homeshop18 launches its next generation e-commerce portal
Americans didn't stop splurging after the holidays
Kurt Geiger, which is a firm favourite with celebrities like Cheryl Cole, has four own brand labels – Kurt Geiger, KG, Carvela and Miss KG. It also sells high-end third-party brands like Gucci and Ugg.
Jones believes the lucrative deal will secure it as one of the world’s most powerful portfolios of fashion footwear.
Kurt Geiger will also greatly benefit from the acquisition.
"Kurt Geiger is still relatively young in terms of growth profile, with great potential still to be fulfilled,” said Neil Clifford, who will continue his role at Kurt Geiger as Chief Executive.
"We have developed a strong relationship with Jones and recognise it as an established designer, retailer and wholesaler in the US.
“Jones has a clear track record of supporting and growing its brands, and we are confident that we have found the right strategic partner to help evolve our business," he added.
