Companies

Hotter Shoes' CEO and CFO exit the company following the acquisition by WoolOvers

Aug 3, 2023 United Kingdom

Both Ian Watson, Chief Executive Officer of the footwear brand, and Gavin Manson, its Chief Financial Officer, have reportedly resigned days after the acquisition by WoolOvers Group

The news was initially advanced by Drapers. After being rescued by the natural knitwear brand WoolOvers in a pre-pack deal worth 6.7 million British pounds (7.7 million euros), Hotter Shoes is set to undergo further leadership changes as both the CEO and CFO have reportedly stepped down from their roles.

Ian Watson was appointed CEO of the footwear brand in March 2019, after holding the same role at the children's footwear brand Start-Rite Shoes. Meanwhile, Gavin Manson was CFO between August 2016 and February 2022, having resumed the position in October of that same year.

For now, the priority of Mike Lester, CEO of WoolOvers Group, is to get the footwear brand back on track. “We are trying to stabilise the business and focus on getting the stock in place for autumn/winter. It's a well-loved heritage brand, and we want to get it up to where it was as quickly as possible”, he said to Drapers.

Lester added that Hotter Shoes will continue to trade through its 17 stores and 10 concessions as well as its e-commerce site and that there plans to bring back direct mail marketing. “Historically, the business has had a strong catalogue-driven business, driving traffic both online and into call centres. We plan to get that up [and running] for the autumn/winter season”, he explained.

Image Credits: barkingdogshoes.com

United Kingdom Acquisitions Brands Companies Hotter Shoes Management