Wourth Group, the parent company of Hotter Shoes, has successfully acquired German retailer Peter Hahn, marking a significant expansion.
- The purchase of Peter Hahn from administration is expected to boost Wourth Group’s annual sales from £110 million to £300 million.
- Wourth Group has expanded its brand portfolio with this acquisition, which fits their demographic perfectly, according to CEO Mike Lester.
- Peter Hahn’s UK website faced suspension due to administrative collapse before the acquisition.
- The strategic acquisition underscores Wourth Group’s confidence in the brand loyalty and economic stability of Peter Hahn’s customer base.
Wourth Group, well-known as the owner of Hotter Shoes, has expanded its business operations by acquiring the German retailer Peter Hahn. The acquisition is set to significantly increase Wourth Group’s anticipated annual sales from £110 million to £300 million, showcasing the company’s ambitious growth strategy.
The acquisition extends Wourth Group’s ownership to several prominent brands, including Scotts of Stow, Thought Clothing, and now Peter Hahn. This move follows Wourth Group’s recent rebranding from WoolOvers Group, coinciding with a predicted 25% rise in sales, excluding Peter Hahn.
Peter Hahn’s UK operations were previously affected by financial difficulties, resulting in the suspension of its website. The acquisition marks a new chapter for Peter Hahn, enabling a fresh start under the stewardship of Wourth Group.
Wourth Group’s CEO, Mike Lester, commented on the acquisition, stating, “The acquisition made sense to us because their customers are our demographic. We like that because they are brand loyal and economically stable.” This statement highlights the alignment of Peter Hahn’s customer base with Wourth Group’s strategic market positioning.
The acquisition demonstrates Wourth Group’s forward-thinking approach, focusing on expanding its market presence by integrating brands with strong customer loyalty and economic resilience.
The acquisition of Peter Hahn signifies a strategic boost to Wourth Group’s market position and financial outlook.
