Business

Dr Martens plans IPO in London

Private equity owner Permira looks to sell down stake

Dr Martens sells more than 11m pairs of shoes and boots every year in more than 60 countries

Oliver Ralph
Mon Jan 11 2021 - 09:43

Dr Martens, the classic boot brand, plans to float on the London Stock Exchange in what would be one of the first big initial public offerings (IPO) of the year.

The company sells more than 11 million pairs of shoes and boots every year in more than 60 countries. It is owned by private equity group Permira, which would sell down its stake as part of the IPO.

"The announcement of our intention to float reflects the great achievements of the Dr Martens team and brand over the past seven years," said chief executive Kenny Wilson. "Even more important is the significant global growth potential for Dr Martens in the future."

Dr Martens generated revenue of £672 million in the year to March 2020, with earnings before interest, tax, depreciation and amortisation of £184 million.

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Mr Wilson added: “We have invested massively to ensure that we deliver the best digital and store experiences to connect with our wearers, and through this we are driving our long-term sustainable growth.” – Copyright The Financial Times Limited 2021

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