In a significant business move, Wourth Group has acquired German retailer Peter Hahn, which was facing administration.
- This acquisition is expected to boost Wourth Group’s annual sales from £110 million to a remarkable £300 million.
- Peter Hahn joins Wourth’s portfolio, which includes brands like Hotter Shoes and Thought Clothing, enhancing its market presence.
- Wourth Group CEO Mike Lester cites demographic alignment and customer loyalty as key reasons for the acquisition.
- The acquisition follows the unfortunate collapse of Peter Hahn’s UK online operations.
In a bold move that underscores its strategic growth ambitions, the Wourth Group has successfully acquired Peter Hahn, a German clothing retailer that had recently entered administration. This acquisition is projected to propel the group’s annual sales from £110 million to an impressive £300 million. Such a development represents Wourth Group’s significant expansion in the retail sector, a move that aligns with its business objectives.
Prior to acquiring Peter Hahn, Wourth Group had already made its mark by purchasing Hotter Shoes among other brands. The inclusion of Peter Hahn into the portfolio, which also comprises Scotts of Stow and Thought Clothing, further consolidates Wourth’s market position and enhances its retail footprint across European markets.
Mike Lester, the CEO of Wourth Group, explained the rationale behind the acquisition: ‘The acquisition made sense to us because their customers are our demographic. We like that because they are brand loyal and economically stable.’ This sentiment highlights the group’s strategic approach to harness existing consumer bases and loyalty for sustained business growth.
The impact of Peter Hahn’s administrative challenges had extended to its UK website, leading to its suspension. Despite these operational difficulties, Wourth Group’s acquisition signifies a promising turnaround and revitalisation for the brand. This proactive response to market opportunities exemplifies Wourth Group’s resilience in navigating retail challenges.
The strategic acquisition of Peter Hahn by Wourth Group marks a significant expansion, capitalising on demographic alignment and market opportunities.