WoolOvers Group has announced the purchase of the business and assets of Hotter, the well-loved footwear brand, out of administration. The addition of Hotter into the WoolOvers Group will complement and strengthen the business’ overall product offering to its over 50s customers.
Hotter is a UK market-leading footwear brand with a history of selling shoes for over seventy years. Born in the mid-nineties as the Hotter we know today, it continues to trade through 27 stores and concessions, via mail order and on a successful eCommerce platform.
Selling over a million pairs of shoes a year to its loyal customer base, Hotter will continue its focus on the valuable over 50s market. The £6.7m acquisition will see all 421 employees along with stores and concessions pass to Buckminster Hamilton Ltd, an entity controlled by WoolOvers Group.
Will Wright, head of restructuring at Interpath Advisory had been appointed as administrators of Beaconsfield Footwear Ltd which trade as Hotters Shoes and is the main trading subsidiary of Unbound Group. Wright commented: “High-cost inflation and fragile consumer confidence is starting to place mounting pressure on companies up and down the high street.”
WoolOvers Group is an International direct-to-consumer retailer based in Burgess Hill, West Sussex. The Group currently trades a number of brands aimed at the over-50s market; including the clothing brands WoolOvers and PURE Collection, the lifestyle brand Scotts of Stow and activewear brand Roama.
With successful mail order catalogues and eCommerce websites, the group has further expanded its core offering to customers via partnerships with like-minded ‘Friends’ suppliers.
Mike Lester, CEO, WoolOvers commented: “The addition of Hotter to our stable of brands enables us to accelerate our strategy to grow our market share within the affluent over 50s market by offering them a complete lifestyle choice.
We believe Hotter is the perfect fit for us and our existing customers, and look forward to working with the team on our ambitious plans for the business.”
As previously reported, WoolOvers Group had previously expressed interest in the Hotter Shoes business, which did not result in a formal offer being made.
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