Steven Madden has agreed to buy luxury footwear and fashion accessory brand Kurt Geiger for about £289 million in cash.

STORY: The world of fashion footwear has a new pair... as shoe designer Steven Madden on Thursday said it would buy UK-based luxury brand Kurt Geiger.The all-cash deal, valued at $360 million - expands Steve Madden's presence in international markets.

In a surprise move, Steve Madden is snapping up Kurt Geiger for 289 million pounds, or $360 million at current exchange. Kurt Geiger’s private equity parent Cinven was first said to be considering a sale of the company back in 2023.