The Wourth Group has made a strategic acquisition in Germany, boosting its annual turnover significantly.
- The acquisition of Peter Hahn takes Wourth’s estimated annual turnover from £110m to £300m.
- Wourth, formerly Woolovers, strategically acquires businesses to revitalise them.
- The group continues to cater to an over-50 customer demographic with a multi-channel approach.
- Peter Hahn’s acquisition fits Wourth’s customer base, though its UK website remains inactive.
The Wourth Group has significantly increased its financial footprint by acquiring German-based clothing firm Peter Hahn out of administration. This acquisition raises Wourth’s estimated annual turnover significantly from £110m to £300m. Chief Executive Mike Lester highlights that the group’s strategy focuses on reinvigorating businesses purchased out of administration, aligning perfectly with Wourth’s customer demographic of predominantly over-50s.
Wourth’s operational model involves a blend of traditional and modern methods, ensuring they meet their demographic’s preferences by offering printed catalogues and expanding physical store locations alongside online services. Currently, Wourth has plans for eight new stores across the UK, including areas such as Salisbury, Cirencester, and Northallerton.
Lester has shifted Hotter Shoes’ manufacturing focus primarily to the UK, with 75% of production now occurring domestically, reversing previous outsourcing trends. This move is well-received by their clientele, who value UK-manufactured products.
Peter Hahn, recognised as a household name in Germany, focuses on clothing and footwear, offering both proprietary and third-party labels. The acquisition strategically complements Wourth’s existing portfolio, which includes brands such as Hotter Shoes, Scotts of Stow, and Thought Clothing.
Despite the promising acquisition, Peter Hahn’s UK website remains suspended due to previous administrative challenges and ongoing Brexit complications. Lester remains optimistic about potential reactivation if conditions permit, aiming to maintain the brand’s established customer loyalty across Europe.
Wourth Group’s strategic movements reflect its commitment to growth and catering to its loyal demographic.
