Neil Clifford’s journey to becoming the CEO of Kurt Geiger is a testament to perseverance and seizing opportunities. His early career was a far cry from the glamorous world of fashion, involving stints cleaning toilets, selling paraffin, and cutting keys. These humble beginnings instilled a strong work ethic and resourcefulness that would later serve him well. A chance encounter with a friend led him to a job at Debenhams, marking his entry into the retail world. Further inspiration came from a conversation with Sir Ralph Halpern, the then-CEO of Burton Group, which encouraged Clifford to relocate to London and pursue his ambitions in the fashion industry. This pivotal moment set the stage for his eventual leadership of Kurt Geiger, where he has spearheaded the brand’s impressive growth and international expansion.
Under Clifford’s 22-year tenure, Kurt Geiger has transformed from a British shoe brand into a global fashion player. He has overseen a significant increase in earnings, from £4 million to £41 million, navigating the company through various ownership changes and economic challenges. One of his key initiatives is the Kurt Geiger Academy, established two years ago. This program provides training in various aspects of the retail business, from design and marketing to finance, to young adults not enrolled in traditional higher education. Reflecting the company’s commitment to social responsibility, five percent of profits, amounting to £2 million last year, are channeled into the foundation supporting this program. The academy underscores Clifford’s belief in investing in young talent and creating opportunities for those who might not have access to conventional educational pathways.
Kurt Geiger’s success in the United States is a notable achievement, particularly given the challenges many British brands face when entering the American market. Clifford attributes this success to the brand’s unique British identity, high quality, and competitive pricing. With a presence in 400 department stores across the US and plans for further expansion with standalone shops, Kurt Geiger is poised for continued growth in this key market. Clifford’s pragmatic approach to international business is also evident in his assessment of the political landscape. He believes that potential trade tariffs under a Trump administration would likely be unproductive, indicating a keen awareness of the complexities of global trade and a focus on navigating them strategically.
The company’s commitment to international expansion is further fueled by challenges in the UK market, including those posed by recent budget changes. Clifford sees international markets as offering more significant opportunities and has indicated that expansion efforts will be primarily focused outside the UK. This strategic decision reflects an adaptive approach to market conditions and a prioritization of growth potential. Despite having been through multiple ownership changes and frequently being the subject of acquisition speculation, Clifford remains unfazed. His lighthearted comment about always being “for sale” suggests a pragmatic approach to the business world and a confidence in the brand’s continued attractiveness to potential investors.
Beyond Kurt Geiger’s own story, other British businesses are navigating the complexities of international markets with varying degrees of success. Rank Group, owner of Mecca Bingo and Grosvenor Casino, has seen a resurgence in popularity, driven in part by the affordability of bingo as a social activity. Fever-Tree, the tonic maker, has experienced a significant share price boost following a strategic partnership with Molson Coors, which will expand its reach in the US market. These examples highlight the dynamism and adaptability required for success in the global business arena.
In contrast, Mulberry, the luxury handbag maker, is shifting its focus back to the UK after facing challenges in the Chinese market. This strategic realignment underscores the importance of adapting to changing market dynamics and prioritizing core markets. Similarly, BT, the telecoms giant, has experienced slowing revenue growth due to challenging international trading conditions. Finally, Shell, while rewarding shareholders with increased dividends and a share buyback, is still considering its listing options, potentially including a New York listing. These diverse business narratives emphasize the ongoing evolution of the global marketplace and the strategic decisions companies must make to thrive in a competitive environment.
