Footwear brand Dr. Martens – Airwair International Ltd is planning to sell shares to stock market investors for the first time in its 60-year history. Dr Martens sold in excess of 11 million pairs of shoes last year, generating £672m in the 12 months to 31 March.
Its owner, private equity firm Permira, plans to sell down its stake and list Dr Martens on the London Stock Exchange. The Griggs family sold the Dr Martens brand to Permira for £300m in 2013. By 2020, Dr Martens generated revenues of £318.2m for the six months to September.
Dr Martens runs 130 of its own stores across the globe, while sales from its own online business have grown to represent a fifth of all its revenues.