London call: Doc Martens plans an IPO on the London Stock Exchange

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The maker of the Dr. Martens boots, the chunky-soled shoes once championed by young rebels but now favored by celebrities like Rihanna, plans to sell shares to the public as current owners seek to profit from the growth of the iconic brand. .
Dr. Martens Ltd. said on Monday that current investors plan to sell at least 25% of their stake in an initial public offering on the London Stock Exchange.

Permira Funds, a London-based private equity investor, bought Dr. Martens for $ 400 million in 2014. Private equity firms are looking to buy undervalued companies and then restructure their operations and cut costs before selling at a profit.

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A pair of black leather shoes by Dr. Martens, spotted at Paris Fashion Week 2020. The iconic shoe brand’s annual sales have grown 39% over the past two years to $ 900 million.

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Dr Martens chief executive Kenny Wilson said the IPO underscored the brand’s “global growth potential” after the shoemaker’s revenue jumped 39% in the past two years to reach 900 million dollars per year. The company is expanding its online sales to supplement the revenues of 130 stores in 60 countries.

“Our iconic brand appeals to a wide range of consumers around the world who wear our shoes to express their individual style,” Wilson said in a statement to the exchange. “We have invested heavily to ensure we provide the best store of experiences to connect with our carriers. ”

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