Britain's most famous punk booties travel to the Stock Exchange. The shoe brand Dr Martens has announced that it will soon land on the London price list to continue its international expansion. It will be one of the main market debuts at the beginning of the year, but the company has not provided any dates at the moment. The transaction provides for the sale of shares by the current shareholders, which represent at least 25% of the capital, with an option for a further 15%. Dr Martens is controlled by Permira investment fund, which bought the company in early 2014 for £300m.
Founded in 1960 in a village in central England (Wollaston, in Northamptonshire), the company was born from the meeting between the German doctor Klaus Maertens and the British industrialist Bill Griggs, specialized in orthopedic shoes with soles equipped with rubber cushions. air. Dr Martens were later worn by Pete Townshend, guitarist and leader of The Who, and by various others counterculture movements in the UK, to then become a typical choice ofpunk environment. Today Dr Martens have stepped out of their original scope and are worn all over the world.
The company sells over 11 million pairs of shoes a year in more than 60 countries with an annual turnover of 672 million pounds. Despite the pandemic, the group saw revenues grow 18% in the six months ended September, with a 30% increase in EBITDA over a year. The brand is investing heavily online and most of the production has been outsourced to Asia.
“The announcement of our intention to go public reflects everything we have achieved in the last seven years – commented Kenny Wilson, CEO of the group – What is even more important is the potential for significant growth worldwide”.
