// Hotter Shoes owner Unbound says the footwear retailer saw double-digit year-on-year revenue growth in the first quarter
// The group achieved “despite the macroeconomic backdrop of rising inflation, supply chain challenges” and the impact of Russia’s war in Ukraine
Unbound Group, owner of the Hotter shoe retail brand said it performed well in its first quarter with a double-digit year-on-year increase in revenue.
The company said Hotter’s active customer base continues to grow, with Unbound’s email database exceeding one million customers, despite rising inflation, supply chain woes and the impact of the Russian invasion of Ukraine.
Unbound said it is seeing the benefits of its omnichannel strategy with the performance of the retail estate being “especially pleasing”.
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Earlier this year, Unbound Group moved from the London Stock Exchange’s main market to its sub-market, AIM as part of a broader rebranding of the group, formerly called Electra Private Equity, as it repositioned itself as an online-first multi-brand retail platform targeted at the 55+ demographic
Unbound CEO Ian Watsons aid: “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.”
While Unbound said its external environment continues to look challenging for the remainder of the financial year, its full year outlook remains unchanged.
Watson added: “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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