Why has Kurt Geiger changed hands so often?

Beloved in the UK, the last 15 years has seen footwear giant Kurt Geiger on a wild ride of ownership changes, reflecting the turbulent nature of the fashion industry and the challenges of growing a mid-luxury brand in a rapidly evolving retail landscape. The acquisition by Steve Madden in February 2025 marks yet another chapter for the UK-based footwear and accessories brand, but it raises the question: Why has Kurt Geiger been bought and sold so many times?