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Investment firm buys Dr Martens

Dr Martens boots became famous in the 1960s

Image © Pixel23

A private equity company has purchased one of the UK’s most famous footwear brands for a reported £300 million ($485.5 million). Permira Funds, which owns Cortefiel, Hugo Boss and New Look, has bought R Griggs Group, the parent company and licensee of the Dr Martens brand.

According to R Griggs Group Chief Executive, David Suddens, Permira was the chosen partner because it shares the current owners’ passion for the brand and wants to respect and nurture its heritage.
Northamptonshire-based R Griggs Group has been making boots since 1901, but became famous with its Dr Martens boot in the 1960s. Its collection has a distinctive British heritage, with products known for their iconic design and as a symbol of sub-cultural rebellion. They are sold in 63 countries, primarily in the UK, Asia, Europe and the USA. Under Mr Suddens’ leadership, business in the Dr Martens brand has reportedly doubled during the last four years. Around 5 million pairs of Dr Martens shoes are sold each year – most of these are made outside the UK, but annually 70,000 are said to be manufactured at R Griggs’ factory in Wollaston.

Publishing Data

This article was originally published on page 6 of the December 2013 issue of SATRA Bulletin.

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