The owners of shoe manufacturer Hotter have announced plans to transition from the Electra Private Equity PLC to Unbound Group PLC.
The name change is expected to be implemented in early 2022, after it was approved by shareholders in a meeting on December 30, 2021.
Additionally, Electra’s delisting from the FTSE Main Market and the admission to trading on the Alternative Investment Market (AIM), a submarket of the London Stock Exchange, was also passed by a majority vote.
Both the delisting and admission are expected to become effective January 31, 2022.
Alongside the name change, Unbound has expressed the intention to extend its “range of digital partnerships to create a curated, multi-brand platform” on which it will offer products and services for its targeted 55 plus demographic. The e-commerce platform will utilise Hotter as a central pillar, as well as cloud-based digital infrastructure and data insight that will power customer personalisation.
It looks to expand its offering of footwear, to also include apparel and wellness products and services, next to third-party brands.