Older generation becomes ‘Hotter’ property
As people live longer and longer the ‘grey’ (haired) consumer is becoming an increasingly important consumer group as older shoppers have more disposable income and are more ‘product savvy’ than ever before and it seems that one UK investment firm believes it is an area where there is much potential for further growth.
Gresham Private Equity has invested £21 million in Hotter Shoes, a UK-based brand of comfort footwear for the ‘grey’ market, in order to grow the company over the next five years. Established in 1959, Hotter predominantly sells its products through mail order catalogues, but also operates four retail outlets across the UK.
Andy Marsh, Partner at Gresham, commented, “We are delighted to be backing the management team at Hotter. It is a niche brand focused on the affluent grey market where we can see exciting growth potential. Also the business has real scalability through its direct marketing channels via mail order catalogues and internet.”
