TIDMUBG
Unbound Group PLC
28 July 2022
28 July 2022
This statement has been updated to include the URL of the
Group's consumer website.
Unbound Group plc
("Unbound" or the "Group")
Initial launch of curated multi-brand platform
Continued development of platform and partner brand strategy
ahead of Autumn Winter launch in September
Unbound Group plc is pleased to confirm the initial launch of
its curated multi-brand platform, www.unboundgroup.co.uk, as
scheduled, which offers a range of partner brands for its core 55+
customer demographic. The further Autumn Winter launch of the
platform is on track to be completed in September.
Alongside its core Hotter brand, the Group is initially
launching with the first 7 chosen partner brands, primarily focused
on complementary specialist footwear categories.
From today through to October, the Group will continue to phase
the onboarding of additional partner brands which will broaden the
offering further across apparel and other specialist footwear
categories, as announced on 30 June 2022. All partner brand
relationships are designed to be capital light, operating a drop
ship model with a fixed percentage commission payable on every
sale.
Utilising insight driven from its loyal and growing customer
base, the Group intends to expand into other relevant growth areas,
including wellness, in Q4 2022 and will establish its own Unbound
apparel range in Q2 2023.
The Group will also continue to explore additional partner brand
opportunities in the coming months with several further
partnerships at an advanced stage. Each potential partner brand is
subject to a careful selection process using data-driven insights
based on four key criteria: relevancy, desirability, specialism and
sustainability. Central to this process is the Group's continued
desire to meet its customer needs.
The Group also continues to invest in the development of the
functionality and technology of its Mirakl-integrated site;
focusing on enabling the Group to partner seamlessly with its
selected partner brands, efficiently scale product offering and
support a frictionless customer experience.
Once a brand joins the platform, it will have direct access to
the Group's growing 4.6m customer database and the benefits of the
Group's investment to date in technology and marketing
campaigns.
Ian Watson, Chief Executive Officer, commented:
"We are on track to deliver a successful launch of the Unbound
platform and I am delighted to be taking the first step towards the
Autumn Winter launch in early September in partnership with 14
carefully selected brands. We continue to use our data driven
customer insight in conjunction with our technology and broader
expertise to enhance our platform, strengthen our offering and
optimise the user experience, which is expected to drive further
customer engagement and loyalty in the medium term.
I am pleased with our progress to date. Alongside the continued
momentum and brand strength of Hotter, we have seen strong uptake
from a selection of leading partner brands, each of which offers
something unique and additive to our loyal customers but are united
under the Unbound Group umbrella. I am confident that each brand
recognises the potential value our platform can bring to them, in
turn encouraging future brands to join us on our curated, scalable
platform.
Today's launch is just the start. We look forward to seeing the
continuing progress of the platform and the true potential of the
full Unbound Group offer becoming apparent in the coming months as
we pursue our growth plans."
ENDS
Enquiries
Unbound Group plc
Ian Watson / Dan Lampard / Jenna Shillcock
020 3874 8300
Singer Capital Markets
Peter Steel / Tom Salvesen / Alaina Wong / Kailey Aliyar
020 7496 3000
Vico Partners
Sofia Newitt
020 3957 5045
Notes to Editors
Unbound Group plc
Unbound Group plc is the parent company for a group selling a
range of brands focused on the 55+ demographic. Unbound Group will
build on the solid foundation of Hotter Shoes, its current main
business, to grow value through its curated, multi-brand retail
platform supporting the active lifestyles of the 55+ demographic
with a range of products and services. Unbound Group's platform
will be powered by Mirakl's leading marketplace technology to
enable the Group to partner seamlessly with selected third-party
brands. Unbound Group's expanded offering beyond footwear will
feature a broad range of active lifestyle products and services,
with third-party complementary brands featuring alongside new
Unbound Group brands, as well as Hotter.
Hotter Shoes
Hotter Shoes, an Unbound Group plc company, is one of the UK's
leading specialist footwear brands, selling over 1.4 million pairs
of shoes per year. Hotter's footwear has an uncompromising focus on
'customised comfort' and perfect fit through the use of its
differentiating technology, including its e-commerce platform, 3D
foot scanner and augmented reality app which enables the consumer
to try products virtually from home. Hotter has been transformed
from a retail to a digitally led, omni-channel business over the
past 3 years, selling its footwear to over 4 million customers via
online, its direct mail order channel and its targeted 17
Technology Centres and 8 garden centre concessions in the UK. With
its clearly defined, large and growing target demographic, Hotter
now reaches some 30% of the female population in the UK over the
age of 55. Digital partnerships have recently been established with
several online retailers including Next, John Lewis, The Very Group
and M&S.
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END
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July 28, 2022 04:31 ET (08:31 GMT)
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