Sales surge at shoe maker Hotter

PRIVATE equity-backed North West shoe manufacturer and retailer Hotter has reported soaring sales, driven by ithe growth of its retail estate and also international growth.

The Sklemersdale company, backed since late 2013 by Electra Partners after incumbent investor Gresham sold its stake in an £85m deal, saw revenues rise 18% to £88.7m and profits jump 15% to £10m in the year to the end of January.

Sales from the company’s international operations rose by 55%, but the bulk of its revenues are still from its domestic market.

The firm, which was founded in 1959 as a slipper manufacturer, employs more than 800 staff.

In the latest accounts filed at Companies House, managing director Peter Taylor said: “Despite continuing pressure on UK consumers we are pleased with the results for 2013 and we will continue to invest to enable us to deliver our longer term plans.

“We upgraded our UK and US websites in the first half of 2014 and opened in Germany in the second half of the year.

“We continue to invest in product development to give our brand a wider appeal to a broader range of customers, both in the UK and internationally.”

Hotter now has 70 stores nationwide, having opened its first shop in Southport in 2002.

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