Dr Martens CEO confirms sale is a possibility - footwearbiz: Leading s

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Dr Martens CEO confirms sale is a possibility

14/08/2019
UK-based footwear brand Dr Martens achieved revenue of £454.4 million in the most recent financial year (12 months ended March 31), an increase of 30% compared to the previous 12 months.

Its profit on this revenue was £85 million, compared to £50 million in the previous year.

Announcing the results, Permira, the private equity firm that acquired Dr Martens in 2013, said direct-to-consumer sales now make up 44% of the brand’s revenue. Increasing this share was one of Permira’s strategic priorities. 

E-commerce revenue was £72.7 million, 67% higher year-on-year. 

Earlier this year, reports emerged that Permira was considering selling Dr Martens. In quotes to UK media, Dr Martens CEO, Kenny Wilson, said a decision from Permira “could be coming over the horizon”.

“They are starting to look ahead to when they are going to sell the business,” he added.

Related stories:

Permira prepares to float Dr Martens 13/01/2021
New brand aims for “regeneration of the great British shoe” 13/11/2019
Northampton museum with shoe gallery reaches construction milestone 01/11/2019
Owner of Dr Martens considers selling the brand 12/04/2019
Iconic products help Dr Martens achieve 20% sales growth 24/10/2018

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