Unbound Group, owner of Skelmersdale-based Hotter Shoes, has raised around £4.3m through a conditional placement, subscription offering and open offering
Approximately £3.3 million was raised via placement and subscription, and up to approximately £1 million was raised via an open offering.
The fundraiser was not subscribed. Certain group executives participated in the placement and subscription offer.
The proceeds will be used to accelerate the group’s growth strategy and increase its profitability, primarily by financing investments in four key areas.
These are driving digital connection with its target customer base by developing the partner brand strategy, reactivating inactive retail customers through the expansion of the group’s portfolio of garden center concession models, investing in technology to improve the customer experience, deliver cost savings and facilitate accelerated scalable growth. , and increasing inventory efficiency by using European suppliers with shorter lead times, purchasing design-driven finished and own-brand products.
Unbound has revealed that, as part of its expansion beyond Hotter Shoes, starting July 28, 2022, Unbound will integrate at least 14 partner brands, which will be sold on its new online Unbound platform.
The group is working with its partner brands to determine the launch dates for each brand, the brands listed will be launched between July 2022 and October 2022.
At the time of the initial launch, seven brands will be live on the site, which will be followed by a new fall/winter launch in September 2022.