{"id":196909,"date":"2022-02-17T10:13:33","date_gmt":"2022-02-17T10:13:33","guid":{"rendered":"https:\/\/www.theindustry.fashion\/?p=196909"},"modified":"2022-02-17T20:02:40","modified_gmt":"2022-02-17T20:02:40","slug":"unbound-signs-deal-with-marks-spencer-to-sell-hotter-shoes","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/unbound-signs-deal-with-marks-spencer-to-sell-hotter-shoes\/","title":{"rendered":"Unbound signs deal with Marks &#038; Spencer to sell Hotter Shoes"},"content":{"rendered":"<p><strong>Unbound Group, the newly listed parent company of Hotter Shoes, has sealed a deal with <a href=\"https:\/\/www.theindustry.fashion\/the_directory\/marks-spencer\/\"><span style=\"color: #ff0000;\">Marks &amp; Spencer<\/span><\/a> to sell its products via the retailer's Brands at M&amp;S programme.<\/strong><\/p>\n<p><!--more--><\/p>\n<p>Hotter has launched on the M&amp;S website today<strong> initially offering 32 products<\/strong> <strong>with plans to increase this to 75.<\/strong>\u00a0The specially curated Hotter range for M&amp;S.com will be centred around comfort and active footwear and includes the comfort brand\u2019s Gore-Tex range. Both women\u2019s and men\u2019s footwear ranges will be available.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>The move follows similar third-party partner deals for Hotter signed with <strong><span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/www.theindustry.fashion\/the_directory\/john-lewis\/\">John Lewis<\/a><\/span>, <a href=\"https:\/\/www.theindustry.fashion\/the_directory\/very-co-uk\/\"><span style=\"color: #ff0000;\">The Very Group<\/span><\/a> and <a href=\"https:\/\/www.theindustry.fashion\/the_directory\/next\/\"><span style=\"color: #ff0000;\">Next<\/span><\/a>.<\/strong><\/p>\n<p>Unbound made its debut on London's junior stock exchange, AIM, on 1 February as a <strong>prelude to the launch of a fashion, lifestyle and wellness platform targeting the over 55s market.<\/strong> The platform will sell Hotter's comfort footwear range as well as a selection of third-party brands.<\/p>\n<p>The announcement of the M&amp;S deal comes as the company, which has been undergoing a shift to a digital-first strategy, revealed growing sales in the year to 30 January 2022 in its first trading update as a listed business.<\/p>\n<p><strong>Revenues were up\u00a016% to approximately \u00a351.9m<span class=\"Apple-converted-space\">\u00a0aided by\u00a0<\/span>significant increases in average selling prices in FY22 of over 16%<\/strong> compared to the prior year, and an improved gross margin to above 63% (up nine percentage points).<\/p>\n<p>Its database of shoppers increased rapidly\u00a0growing by over 35% in FY22, taking its<strong> emailable database to over one million.<\/strong><\/p>\n<p>On an IFRS basis, Hotter is expected to generate adjusted EBITDA of approximately \u00a35.5m for FY22 (versus FY21 loss of \u00a30.9m).<\/p>\n<p>CEO Ian Watson said:\u00a0\u201cI am delighted that the progress we have made in resetting Hotter continues to be translated into improved financial performance and momentum. The partnership with M&amp;S is further testimony to Hotter\u2019s attractiveness to other best in class retail platforms. <strong>The development of the Unbound Group platform is also gathering pace,<\/strong> we have strengthened the management team and we are currently engaged in positive discussions with a number of potential partners.\u201d<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>Read our recent interview with CEO Ian Watson <span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/www.theindustry.fashion\/the-interview-ian-watson-ceo-unbound-group\/\" target=\"_blank\" rel=\"noopener\">here<\/a><\/span>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p> [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":197014,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[10488,10585,6,10494],"tags":[18319,16488,16486,11337],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Unbound signs deal with Marks &amp; 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