Dr Martens, the classic British boot brand, is planning to go public on the London Stock Exchange in what would be one of the first major initial public offerings of the year.
The company sells more than 11 million pairs of shoes and boots each year in more than 60 countries. It is owned by private equity group Permira, which would sell its stake as part of the IPO.
“Our announcement of our intention to float reflects the great achievements of the Dr Martens team and brand over the past seven years,” said Managing Director Kenny Wilson. “Dr Martens’ significant global growth potential in the future is even greater.”
Dr Martens generated revenue of £ 672million in the year to March 2020, with earnings before interest, taxes, depreciation and amortization of £ 184million.
Mr. Wilson added, “We have invested heavily in ensuring that we are delivering the best digital and in-store experiences to connect with our users, and through that, we are driving our long-term sustainable growth.