NEWS
Electra to buy Hotter Shoes for 200 million pounds
The Private equity firm Electra Private Equity Plc (ELTA.L) will acquire
footwear retailer Hotter Shoes in a deal valued at 200 million pounds, according to The Telegraph.
The shoe company, which was founded in 1959 as Beaconsfield Footwear,
had hired investment bank Rothschild early last year to explore strategic options for the business.
The private equity firm Gresham-backed retailer is British Electra's first acquisition of the year.
Centenary Celebrations for Padders
Ecco will diversify its offer Ecco is expected to rejuvenate its product range offering new and more
fashionable styles, especially in its 1,200 plus single-brand stores around the world, following the appointment of Paul Janssen to the new position of branding director in charge of external sourcing starting in January 2014. The experienced 49 year old Dutch product development expert will move from Germany to Denmark and report to Andreas Wortmann, Ecco’s executive vice president.
Currently, only about ten per cent of the 20 million pairs of shoes sold by
Ecco are sourced from factories that don’t belong to this vertically integrated group. Janssen’s job is to create,
implement and execute a new
external sourcing strategy to improve the attractiveness of the company’s product range for its shops and its partners around the world. He will also attempt to move sourcing closer to the market, reducing lead times.
Results & Statistics Kurt Geiger, the second largest shoe retailer in the UK, recorded an 18 per
cent sales increase in the four weeks of the holiday season to December 24th 2013, as compared to the same period the previous year.
According to the retailer, a surge in the sale of boots was the main reason
for the positive performance. The company said that it expects to sell 150,000 pairs of boots in December alone.
Sales for the year to December 24th were up 9 per cent to £230 million,
driven by a 21% increase overseas. Online orders also boomed, making a 90 per cent increase year-on-year.
The Kurt Geiger brand is owned by Jones Group.
"The articles above are extracted from Shoe Intelligence, the international business publication on the footwear market. If you want to receive a full sample issue or ask for a free trial, please send an e-mail to
sampleft@edmpublications.com."
T Groocock & Co Ltd is still very much a family affair with several members of the family actively involved in the business. They are proud of the fact they adhere to the same values, service and standards that the Padders brand is famous for.
www.padders.co.uk Using their broad and detailed understanding of footwear design and
extensive shoe making experience they launched their own brand, Padders, in 1982. The Padders brand name was the inspiration of Sylvia Groocock who saw the potential of the growing PU comfort market.
Throughout the decades they have seen many changes from supplying military footwear to winkle pickers and platform shoes.
T Groocock & Co Ltd is extremely proud to be celebrating 100 years
of trading as a family business. Thomas Groocock opened his footwear manufacturing business in 1914 in Rothwell, Northamptonshire, the heart of the British Footwear Industry.
8 • FOOTWEAR TODAY
• FEBRUARY 2014
www.footweartoday.co.uk
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