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Hotter Shoes parent Unbound Ground sees revenues rise in Q1

Tom Shearsmith
12 May 2022

Unbound Group, owners of Hotter Shoes, has published its trading update for Q1, reporting a double-digit increase in revenues against the same period last year.

Hotter, which was admitted to trading on AIM in February 2022, is reportedly "seeing the benefits of its omnichannel strategy" with the performance of the retail estate being "especially pleasing".

The company's active customer base continues to grow, with its email database now exceeding 1 million consumers.

Unbound Group is aiming to capitalise on the digital strengths, customer loyalty and database of its core trading business, Hotter Shoes, to create a curated online multi-brand retail platform serving the 55+ demographic.

The group plans to shortly launch its partner brand offering within the footwear and apparel categories, followed by a wellness offer. The company confirmed it has received a high level of interest in the Unbound platform and has secured a number of partner brands to join.

The Unbound platform will launch at the end of July 2022, followed by a full autumn/winter launch in early September 2022.

Ian Watson, Chief Executive Officer, commented: "I am delighted that the progress we have made in transforming Hotter continues to be translated into improved financial performance. The development of the Unbound Group platform is gathering pace and we have secured a number of exciting launch partner brands within footwear and apparel.

"We are engaged in positive discussions with a number of additional potential partners that will further develop our footwear and apparel offer and launch our wellness proposition, to be followed by other target categories in phased implementations. We continue to be guided by our unique insight of our consumer base as we curate a range of products specifically for our target audience."

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