Wourth Group, formerly Woolovers, has successfully expanded its business operations with a significant acquisition in Germany.
- The group increased its annual turnover from £110 million to an impressive £300 million after acquiring Peter Hahn.
- Peter Hahn, a well-known German clothing firm, aligns with Wourth’s focus on the over-50 customer demographic.
- The acquisition strategy includes revitalizing companies to make them viable, as evidenced by Wourth’s success with Hotter Shoes.
- Wourth Group’s expansion strategy emphasizes a balance of traditional and digital retail methods to cater to its target audience.
The acquisition of Peter Hahn by the Wourth Group marks a substantial increase in its annual turnover, soaring from £110 million to £300 million. This strategic purchase brings Peter Hahn, a reputable clothing firm in Germany, under the Wourth umbrella, enhancing its growth trajectory by aligning with a customer base shared in common with other brands in the group.
Wourth’s rebranding from Woolovers reflects a dynamic approach to the retail market, where its business model involves acquiring companies under financial distress and restoring their market viability. This model has proven effective with Hotter Shoes, which doubled its sales to £52 million in the fiscal year ending March 2025, within just a year of purchase.
Peter Hahn’s customer demographic, predominantly over 50, fits well with Wourth’s existing brands, including Hotter Shoes, Scotts of Stow, and Thought Clothing. Wourth’s chief executive, Mike Lester, observes that this demographic is both brand loyal and economically stable, making it a lucrative target for the group’s offerings.
In its effort to reconnect with its customers, Wourth Group employs a balanced strategy that integrates digital, in-store, and catalog-based shopping experiences. This approach resonates well with the preferences of their primarily older clientele, notably increasing the number of physical stores for Hotter Shoes and shifting a significant portion of its manufacturing to the UK.
Lester’s foresight has involved expanding Hotter Shoes’ retail presence with plans to open new stores across various UK locations, while ensuring 75% of the brand’s production is UK-based. This decision not only supports local manufacturing but also aligns with customer preferences for domestic products.
Despite the suspension of Peter Hahn’s websites in the UK and other European countries due to administrative issues, the brand continues to operate successfully in its home market of Germany, and in Austria, Switzerland, and the Netherlands. Discussions regarding the potential re-establishment of its UK online presence are ongoing, contingent on resolving complexities such as those stemming from Brexit.
Wourth Group’s strategic acquisitions and adaptive retail strategies have significantly bolstered its market position and financial performance.
