On February 13, according to media reports:

 Steven Madden, a well-known footwear brand, announced on Thursday that it would acquire the British luxury brand Kurt Geiger for 289 million pounds (approximately RMB 2.64 billion) in all-cash deal, expanding its influence in the international market.

Kurt Geiger, whose brands include KG Kurt Geiger and Carvela, operates in luxury and upmarket department stores such as Harrods and Selfridges in the UK.

Steven Madden plans to fund the transaction through a combination of cash and debt, with the deal expected to be completed in the second quarter.

The two companies stated that for the 12 months ending February 1, 2025, Kurt Geiger's estimated revenue will be around 400 million pounds.

According to data compiled by the London Stock Exchange Group, Steven Madden is expected to deliver $2.25 billion revenue for 2024 when he reports fourth-quarter results On February 26th.

Adidas fined for pigskin shoes

Footwear giant Adidas has been fined more than 15,000 dollars in Turkey for failing to inform customers that one of its flagship shoes contained pig skin.

The Muslim-majority country’s advertising regulator harshly criticized Adidas for without describing the “Samba OG” sneakers as leather came from pig, only mentioned being made of “real leather”.

Agence France-Presse reported, The regulator said advertisements and product descriptions must explicitly mention the use of material that is "contrary to the religious sentiments of the majority of society".

The regulator fined the Adidas company 550,059 Turkish lira ($15,200).

When contacted by AFP, Adidas admitted it had "updated" its guidelines on its website but did not comment on the fine. The company said in a brief statement:

"On our Turkish e-commerce website, based on our separate notification on product descriptions, we have updated the material specifications for the product accordingly."

In 2020, Turkey's Religious Affairs Agency ruled that "shoes or clothing made from pig skin or fur are not allowed."