Hotter Shoes owner taps investors for £4.3m boost
The owner of Hotter Shoes has asked investors to help it raise more than £4m.
Unbound Group is seeking to raise £3.3m through placing new shares on the London Stock Exchange’s AIM and a further £1m via an open office.
In a statement, the group said it was making the move to “accelerate its growth strategy and boost profitability”. It added that it wants to fund investment to drive digital connection with its target customer base by growing the partner brand strategy.
The firm will also be focused on reactivating dormant retail customers through the expansion of its garden centre concession model portfolio.
As part of the investment, Unbound will invest in technology to improve the customer experience, deliver cost efficiencies and facilitate accelerated scalable growth.
Finally, increase inventory effectiveness and procurement will be bolstered.
Hotter Shoes was founded in 1959 in Skelmersdale, Lancashire. In the 12 months to the end of January 2022, its revenue totalled £51.8m and its pre-tax profits were £300,000.