Dr Martens reveals IPO plans as part of global push
Iconic shoe and boot maker Dr Martens has confirmed that it is considering an IPO on the London Stock Exchange in a move that bosses say will extend its global appeal.
The Northanmpton firm, which is one of the most-recognised footwear brands in the world, sells over 11 million pairs of shoes a year. For the 12 months to 31 March 2020, the company turned over £672.2m.
The move would come seven years after the Griggs family sold Dr Martens for £300m to Permira.
Kenny Wilson, chief executive of Dr Martens, said: “The announcement of our intention to float reflects the great achievements of the Dr Martens team and brand over the last seven years. Even more important is the significant global growth potential for Dr Martens in the future. Our iconic brand appeals to a diverse range of consumers around the world who wear our footwear to express their individual style. We have invested massively to ensure that we deliver the best digital and store experiences to connect with our wearers, and through this we are driving our long term, sustainable growth.
“It is the people of Dr Martens who make the brand and the culture so unique, and I would like to extend a heartfelt thanks to them for their passion and effort in growing our business so significantly and in delivering through the testing times of the pandemic over the last year. We have an exciting future ahead of us both as a plc and also as we continue to build and develop the Dr Martens brand.”