Hotter Shoes reveals 9% sales growth
NORTH West manufacturer and retailer Hotter Shoes has reported revenue growth of 9% for 2012, boosted by a 44% sales uplift in international markets.
The Skelmersdale-based group, backed by the Manchester office of private equity house Gresham, said during the year it strengthened its multi-channel offering, opening 21 standalone shops, creating 200 jobs.
Overseas sales grew by 44% in 2012, driven by strong performance in the US. It is now exploring opportunities in new markets including in the Middle East and Russia, and plans to start trading in Germany in 2014.
Online sales grew by more than 20%, helped by investment in the website, an enhanced digital marketing programme and improved IT infrastructure. Its mail order business also performed ahead of expectations, it said.
Underlying profits were up 16%, but the company did not reveal figures.
Chairman Peter Chappelow said: “We are pleased with the results for 2012 and this means we have now doubled our turnover over the last four years. We will continue to invest in our product, sales channels and international presence going forward.
“All those elements of our growth strategy are showing encouraging signs in 2013 and we see great potential for further expansion both in the UK and overseas.
“Next year, we plan further investment in our new product range and branding, which has already been appealing to our existing 1 million customers as well as a growing number of new ones. Our international website is due to be launched in the first half of 2014, driving further sales in the USA, and supporting the roll-out of our sales channels in other markets.”
Hotter now employs more than 1,000 people and has over 1 million customers. Its factory produces 1.6 million pairs of hand-finished shoes each year – or one every 20 seconds – making it the UK’s biggest shoe manufacturer.
