←US fashion boss Steve Madden buys Kurt Geiger for £289m
Текст: Steve Madden, the fashion boss best known for his links to the criminal antics depicted in the book and film The Wolf of Wall Street, is buying the UK footwear and accessories brand Kurt Geiger for £289m in cash.
Madden’s Nasdaq-listed company said it had signed a definitive agreement to buy the London-based company, which also owns Carvela, from a group led by Cinven, the private equity firm that bought Kurt Geiger for £245m in 2015. The deal is expected to be completed by the end of 2025.
Steve Madden said buying Kurt Geiger was “one of the great accomplishments” of his career, adding: “The brand is doing better and better every year, and the opportunity to collaborate with them is thrilling. I get goosebumps just thinking about it.”
Madden, who started his footwear brand in 1990, served 31 months in prison for his involvement in securities fraud and money laundering related to his dealings with Stratton Oakmont, which underwrote his company’s flotation. The illegal antics of the financial firm, founded by Jordan Belfort and Madden’s childhood friend Danny Porush, were depicted in Martin Scorsese’s The Wolf of Wall Street, based on Belfort’s memoirs.
Since leaving jail, Madden has built his company into a successful fashion brand, which has bought other brands including Dolce Vita, Betsey Johnson and ATM Collection.
Kurt Geiger, which began as an upmarket footwear store on Bond Street in London in 1963 and was
once part of the former Harrods owner Mohamed Al Fayed’s retail empire, has expanded into handbags, swimwear, hats and sunglasses in recent years and has grown internationally, building its US sales from £10m to £140m in the last four years. It has more than 70 stores, mostly in the UK and US, and sells online and via department stores.
Last year Kurt Geiger said its underlying profits rose 34% to £40.4m as sales rose nearly 10% to £361m.
Neil Clifford, the chief executive of Kurt Geiger, said: “We couldn’t be prouder of the progress our team has made over the last few years in building Kurt Geiger
London into a globally recognisable fashion brand.
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“While we’ve delivered remarkable growth in recent years, we believe we are in the early stages of our growth journey, with significant expansion opportunities available to us. With its global infrastructure and proven track record of supporting and growing its brands, we believe Steve Madden is the right strategic partner to help us reach our potential.”
What should the Grenfell memorial look like? History has some answers
Текст: For the past seven years, Grenfell Tower has been cloaked in white wrapping, protecting the fire-damaged fabric from further corrosion and the public from falling debris. This shroud covers a monumental cenotaph, a visceral reminder of the tragedy that claimed 72 lives and upended so many others. Now, the deputy prime minister has decided that the tower will be demolished in time for the 10th anniversary of the fire in 2027. The justification is that the tower is structurally vulnerable, and – insipidly – because there is no consensus among the community groups and campaigns seeking reparative justice.
Many of these groups have said they
felt ignored by the government’s decision, while
local residents remain divided. What is clear is that a top-down verdict from central government has obscured some of the careful thinking and deep engagement by various communities at a local level. As attention turns toward the construction of a permanent memorial, there are questions as to whether this can be handled with the appropriate sensitivity and proper consultation.
Early signs, based on the government’s ruling, are that the system has not fundamentally been reformed. Decisions about a memorial to Grenfell will have a particular potency because the redevelopment of the site will be a measure of how the construction industry and regulatory regime have changed since the tragedy, from planning and procurement, design and construction, to management and maintenance.
All of these processes should by now be practically inverted if we’ve achieved the shift needed: community-led, bottom-up planning; procurement based solely on quality, with clear and accountable contractual relationships; health, safety, accessibility and sustainability as primary considerations; a process of production that engages local skills and enhances the local economy; and – as the Grenfell Tower Memorial Commission, made up of residents and survivors, advocates – a speedy transfer of ownership from government to an appropriate independent body. The government has
committed to this, if that is the wish of the community, and an organisation will be set up to own and maintain it.
Memorialisation and the design of monuments is a complicated process,
as the continuing controversy around agreeing an appropriate site, form and purpose for the
UK’s national Holocaust memorial demonstrated. The
anti-monumentalism of the postwar years rejected the
monolithic memorials that reflected the bombast and sublimity so favoured by despotic regimes. In London, this turn away from the grandiose has manifested in the
fourth plinth commissions, but also more modestly and movingly in sites like
Altab Ali park, Whitechapel, where the racist murder of a young Bangladeshi textile worker in 1978 is commemorated by a decorative arch.
Monuments to ordinary communities made extraordinary through disaster are as rare as they are difficult to design. But we can look to history for inspiration. Take the Victorian artist George Frederic Watts’s commitment to a Memorial to Heroic Self-Sacrifice, situated in Postman’s Park, essentially a veranda designed by Ernest George with beautifully crafted ceramic tablets commemorating ordinary people who died selflessly saving the lives of others. More than half a century later, the
London county council created a memorial to Londoners who had died during the blitz by creating an avenue of mature trees running between old County Hall and Waterloo Bridge on the South Bank.
Ruins and relics can also have their own potency: the medieval structure of Coventry Cathedral was badly damaged by a Luftwaffe raid. The architect Basil Spence retained what remained of the structure as a garden of remembrance, adjacent to his striking contemporary cathedral.
The independent Grenfell Tower Memorial Commission, which is supported by the Ministry of Housing, Communities and Local Government, has advanced the commissioning process by
shortlisting a number of design teams, a refreshingly diverse list of practitioners in architecture and adjacent disciplines. Whoever is appointed, it will be daunting task and a weighty responsibility, with complex long-term considerations.
Though the aspiration is that the official memorial will be permanent, it should also be able to evolve. The meaning and cultural memory of Grenfell will inevitably change, in ways we are unlikely to anticipate. The Victorians liked sturdy, fixed monuments – in our contemporary moment, this kind of heroic memorialisation simply does not cater to the diverse views and needs of the community or the public. The Monument in the City of London – it is easy to forget – commemorates the Great Fire of 1666, and its messages about the causes of the fire and the power relations that informed the City’s reconstruction represent a
very specific historical context now largely forgotten.
Further, even though the tower will be demolished, aspects of it should be preserved. When the architects Alison and Peter Smithson’s brutalist landmark housing scheme Robin Hood Gardens was finally consigned to the rubble heap, the V&A Museum was challenged to preserve a three-storey section in its collection. With appropriate supporting displays and interpretation, there could be a similar approach in keeping some of the fabric of Grenfell.
Forensic Architecture, meanwhile, has not only sought to accurately record the tower’s structure and the technical failures it endured, but also developed “situated testimonies” in collaboration with residents, bereaved families and survivors.
The memorial provides an opportunity to commemorate the profound change that Grenfell has and must continue to have on how our cities and buildings are shaped. Academics like Liam Ross in Edinburgh have undertaken detailed research around what he terms “
pyrotechnic cities”, the ways in which buildings and the urban condition have been shaped by fire and resulting regulatory or practical changes, including in North Kensington. Ross undertakes an “archaeology of fire”, observing the process of “concretising existing codes in new structures”. True memorialisation of disaster involves revising standards. Over the past three years, Ross and I have collaborated on designing a
short learning programme aimed at arming professionals with deeper knowledge of fire and life safety, conceived as a memorial and a platform for change.
There are already many memorials to Grenfell, driven by those most affected by the fire and on the frontline of campaigning. They remind us that memorialisation is not a passive or indeed singular act. Even if the tower were to remain, its potency as a symbol would depend on fundamental shifts in the way we think about our buildings and cities. A memorial should not and cannot be a “national” monument for gawping at, but a nodal point of a shared and renewed commitment to ensure such a tragedy never happens again.
Neal Shasore is a historian of the built environment and heritage advocate
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