LONDON – Iconic British footwear brand Dr Martens today took steps to launch on the London stock market, seven years after it was acquired by the private equity group Permira.
The maker of boots and shoes, whose internet sales have boomed worldwide during coronavirus lockdowns, “announces that it is considering an initial public offering”, Dr Martens said in a statement.
Permira, which bought Dr Martens for £300 million (RM1.64 billion) in early 2014, said it would sell down its stake under a flotation.
Dr Martens, which sells more than 11 million pairs of boots and shoes annually in more than 60 countries, saw revenues jump by around one fifth to £318 million (RM 1.73 billion) in the six months to September from a year earlier.
Chief executive Kenny Wilson today said the company was targeting “significant global growth potential” with the help of increased investment from a stock-market listing.
“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,” he added in the statement.
Dr Martens has 130 retail stores worldwide, with online sales representing one-fifth of all revenues. – AFP, January 11, 2021
