Hill Dickinson’s Manchester Corporate team has recently advised AIM-listed Unbound Group plc, parent company of Beaconsfield Footwear Limited, trading as Hotter Shoes, in respect of a £3.4 million fundraising. The fundraising comprised a placing, subscription and open offer of new shares.
Since admission to AIM, Hotter Shoes has been the sole trading business within Unbound Group and is the foundation for developing a curated multi-brand retail platform supporting the active lifestyles of the over-55 age demographic with a vision ‘to help people move better, feel better and do more of what they love’.
Hotter Shoes has a strong reputation among its core demographic, demonstrated by recent studies (Hotter/Carat Brand Tracking Report 2020) showing that 60% of people surveyed (aged 50+) recognise Hotter Shoes as the number one brand for comfort shoes in the UK, ahead of Clarks, Ecco and M&S.
Unbound Group will use the proceeds of the fundraising to accelerate its growth strategy and boost profitability, primarily by funding investment in four key areas:
driving digital connection with its target customer base by growing the partner brand strategy;
reactivating dormant retail customers through the expansion of its garden centre concession model portfolio;
investing in technology to improve the customer experience, deliver cost effectiveness and facilitate accelerated scalable growth; and
increasing inventory effectiveness by utilising nearshore suppliers with shorter lead time procurement of design-led finished and own-brand goods.
The Hill Dickinson team was led by Ian Gillis, a partner in the Manchester Corporate team, with assistance from paralegals Paula Mas Alvarez and Oliver Benson.
We are pleased to have advised Unbound Group on this successful fundraise. Our AIM-listed clients make up a significant proportion of the corporate work we do and it is always a pleasure to work in partnership with a client on a deal that enables them to take the next step. We wish the team at Unbound every success in taking their growth strategy forward to reach new and wider markets.Ian Gillis
Partner, Hill Dickinson
Hill Dickinson is currently ranked No 3 in the UK by the ARL Adviser, 3 May 2022, for number of retained AIM clients, acting for 41 AIM-listed companies.