London-based Hotter Shoes’ owner to now sell apparels

Electra Private Equity, which owns Hotter Shoes, will be now selling apparels and introducing third-party brands.

Reportedly, the London-based firm will delist from the main London Stock Exchange and be admitted to Aim on 31 January 2022, when it will be renamed Unbound Group.

Here it is important to state that the shareholders had approved the relisting at a general meeting last month.

Ian Watson, CEO, Hotter Shoes said that with Hotter Shoes’ market capitalisation being less than £100 million, the business is better suited to the smaller Aim market. The capitalisation of Hotter Shoes presently stands at £30.3 million.

Ian will also be the CEO of Unbound Group.

Unbound Group, under the new list, intends to become a multi-brand retail platform aimed at the 55-plus demographic.

Notably, Unbound Group will enhance its offering beyond footwear, and include clothing, wellness and lifestyle products, besides also selling third-party brands.

The firm also, reportedly, plans to leverage the existing customer database and the digital infrastructure of Hotter Shoes to support sales on the new Unbound platform.

Having invested millions of pounds to create one of the most advanced shoe making facilities in the world, Hotter is now creating the next generation of comfort footwear.