Private equity firms eye Jones Group
19/09/2013
The US-based parent of footwear brands Kurt Geiger, Stuart Weitzman and Brian Atwood has been struggling, and earlier this year announced a cost-cutting plan which included closing 170 underperforming stores as well as streamlining wholesale divisions and its supply chain.
Jones is the latest footwear firm to come under the gaze of private equity firms, with Cole Haan and Le Chameau acquired by buyout groups in the past year.
“Shoe retailers potentially offer international expansion opportunities as fashion trends become more homogeneous across the world," said Gareth Whiley, head of the retail and leisure team at Silverfleet Capital, of their appeal.
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