UK-based comfort shoe brand hot Shoes will enter the wellness and apparel segment after private equity owner Electra launched its business later this year.
If the parent company is also renamed to Unbound Group, Hotter Shoes will float to AIM as part of Electra’s own float.
The company and the brand have devised a market that “provides a variety of products and services that support the well-being and active lifestyle of selected customer communities” by maximizing the attractiveness of Hotter to older consumers. To do.
We sell apparel and wellness products that include third-party complementary labels. The marketplace concept will start in the first half of next year.
Hotter targets the age group of 55 and older, with an increasing focus on its general well-being. Its demographics are also more digital than ever (especially after a pandemic), which Hotter’s own recent physical-to-online pivots are using.
Seven months after the launch of the new strategy in October 2020, UK online sales increased 30% quarter-on-quarter and digital partnership sales increased 44%.
Online sales in the United Kingdom and the United States accounted for 68% of total sales during the period, up from 54% in the previous year on a similar basis.
In the same seven months, EBITDA outperformed its ongoing operations by 8%, despite closing the remaining physical stores for 21 of the 30 weeks during the period.
In particular, Hotter sales in the first half of the year increased 39% online, outpacing 25% of total sales.
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It’s hotter to launch the welfare and clothing market
Source link It’s hotter to launch the welfare and clothing market