By Leanne Carr2019-12-02T15:31:00
Dr Martens’ owner – private equity firm Permira – is looking to sell the shoe brand for £1bn.
The famous shoe brand is set to double underlying earnings to £170m for the year ending in March 2019, after it recorded a 70% surge in EBITDA to £85m during the previous year.
Direct-to-consumer sales spiked 42% to £199.4m during the 12 months. Revenues through its store network jumped 30% to £454.4m and were up 18% on a like-for-like basis, while ecommerce sales rocketed 67% to £72.7m.
Permira bought Dr Martens six years ago for £300m and recently appointed former Cath Kidston boss Kenny Wilson at its chief executive to help steer the business towards a sale.
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