Dr Martens plans stock market entry
Sales rose during 2020, despite the COVID-19 pandemic.
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The owners of the Dr Martens footwear company are reported to be considering listing it on the London Stock Exchange in order to sell shares to stock market investors. The UK-based manufacturer is said to have sold more than 11 million pairs of shoes during 2020 and saw its total sales rise by 18 per cent in the six months to September, despite the economic turmoil caused by the COVID-19 pandemic.
While a considerable proportion of Dr Marten products are sold through partner retailers, the company operates 130 of its own stores around the world, and some 20 per cent of revenue is achieved by its own online business. Dr Martens’ well-known shoe was developed by German army doctor Klaus Maertens after the Second World War. Northamptonshire-based R Griggs then bought patent rights to manufacture the footwear in the UK, making the iconic work boots for the first time in 1960. The Griggs family sold the Dr Martens brand to private equity specialist Permira in 2013.
This article was originally published on page 4 of the February 2021 issue of SATRA Bulletin.