Business

Kurt Geiger shoes bought by Jones Group

Kurt Geiger shoes
Image caption Kurt Geiger shoes are sold in Harrods, Selfridges and House of Fraser

British luxury shoe retailer Kurt Geiger has been bought by US firm Jones Group for $350m (£215m).

Jones Group, which already owns the Nine West and Stuart Weitzman brands, said it had bought the UK firm from private equity group Graphite Capital.

Established in 1963, Kurt Geiger is Europe's largest luxury shoe retailer.

It has 49 stores and operates 156 concessions in department stores including Harrods, Selfridges and House of Fraser.

Kurt Geiger had sales of about $332m in the year to the end of April.

The takeover is the latest move in the luxury fashion sector.

Last week, Jimmy Choo was bought by investment firm Labelux.

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