People Moves

Mahabis appoints Iain Martin as its new CEO

Mahabis, the upmarket footwear retailer, has appointed former Moonpig MD Iain Martin as its new chief executive, taking over from interim chief executive, James Cox.

During his nine-year leadership at Moonpig, which he joined in 2006, Martin grew revenue from £1.8m to over £60m and took EBITDA growth from £0.3m to £13.6m per annum, taking the greetings card e-commerce platform to a fully-fledged household name.

He also successfully presented Moonpig for sale to the PhotoBox Group in 2011 for £120m. Post deal, Martin continued to lead the successful greeting cards business for a further four years.

Prior to Moonpig, he worked across the technology and retail sectors where he led creative and technical teams at leading companies such as Hallmark, Marks & Spencer and Tigerprint.

More recently, Martin led BioBeats, a leader in digital health and artificial intelligence, where he supported the founders efforts in raising £2.4m of early growth funding and delivered their first commercial product to a major healthcare insurance business.

Mahabis said Martin was appointed after an “extensive search process” conducted by investment boutique, YYX Capital Partners, post its acquisition of the business in January 2019.

Managing partner of YYX Capital, Cox, said: “Iain has a wealth of experience gathered from more than 20 years’ in senior commercial, marketing, operational and technical roles, spanning large and small scale businesses. We’re delighted to have such high calibre CEO on board.

“Iain’s solid track record of devising and delivering growth strategies, scaling teams at pace, whilst simultaneously nurturing collaborative and positive team cultures gives us absolute confidence that he is the right person to further grow Mahabis globally, and at speed.”

Commenting on the appointment, Martin added: “Mahabis has an established brand name and good customer recognition having already sold nearly a million pairs of its iconic design footwear in over 100 countries in just over four years. It’s a high margin product category with a large addressable market, both online and offline. I can’t wait to help propel the brand in new and exciting directions.”

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