The goal is to get the money where it is, from shareholders and investors. Enough to raise the hair a little more on the heads of punk clients protesting the established order. The timing of the operation is not specified but it would be the first largest IPO of the year on the financial markets.
A little more than eleven million pairs of Dr Martens are sold each year in around sixty countries for a turnover of around 700 million euros. The crisis has hardly affected activity. In the first half of 2020, the group, which today belongs to the Permira investment fund, saw its turnover increase by 20%. But distribution depends a lot on retailers, yet shoe stores remained closed during the lockdown. Internet sales revenue took over with a 70% jump. Dr Martens is now focusing on direct sales, which requires reorganization and heavy investment. Hence the need for new money.
Dr Martens is a legendary brand created in 1960 by the German doctor Klaus Maertens. At the beginning orthopedic shoe, then safety for construction sites, it was quickly adopted by the guitarist of the group The Who and the movements of the counter-culture. The “Doc” quickly established themselves as a fashion phenomenon. The company’s headquarters are still based in central England but the majority of production now comes from Asia (Indonesia and Vietnam in particular) to take advantage of lower social and fiscal costs like many other sectors today. .