It's been a while since we heard from Sycamore Partners, the New York private equity firm that completed its acquisition of Jones Group in April 2014 and then steadily went about selling off Jones's various underperforming brands in the months that followed. Stuart Weitzman, bought by Jones group in two deals in 2010 and 2012, got sold off to Coach last January, while Jones New York went to Authentic Brands Group this spring. Now another Jones Group brand, Kurt Geiger, has found a new home with the European private equity group Cinven Limited.
Cinven, which is based in London, announced Monday that it will be acquiring Kurt Geiger and its associated brands (Kurt Geiger London, KG, Miss KG and Carvela) from Sycamore Partners for an undisclosed sum. With a portfolio that spans financial services, health care and industrial manufacturing, Cinven only owns a few consumer companies: Camaïeu, a French women's clothing brand, and the home improvement retailer Maxeda. It's safe to say that Kurt Geiger is the fashion-iest company on Cinven's roster.