Hotter Shoes makes strong strides
Hotter Shoes sales have passed the £100m target despite the impact of severe weather in the first two months of 2018. Sales of its UK made comfortable footwear grew in both wholesale and international markets with its focus on targeting a younger demographic, in addition to its traditional mature market, bearing fruit. In April 2018 Electra bought out the founder's interest for £19 million (it had invested £84 million to support the MBO from the company's founder and Gresham LLP in 2014).
Hotter Shoes CEO Sara Prowse, who was appointed in 2016, has since strengthened the management team and commenced with the implementation of a turnaround plan focused on cash, inventory, and cost management as well as retail performance improvement. A large investment is underway to improve IT systems across the business which will help support future growth in international markets and online.
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