Acquired by Permira back in 2014 for $462 million, Dr. Martens has reached international success. Today, it sells over 11 million pairs of shoes every year in more than 60 countries. The brand’s listing on the London Stock Exchange would be one of the first big initial public offerings of 2021, with the sale of at least 25% of the 75% of Permira’s shares. Despite closed stores due to the pandemic, Dr. Martens managed to increase its revenue by 14% from April to September of 2020 compared to the same period the previous year.
The explanation is simple: its revenue from e-commerce jumped 74%! Dr. Martens invests heavily online and expects e-commerce to be “the main driver of growth over the coming years.”
As Dr. Martens’ e-commerce partner in China for many years, we congratulate them on their success and wish them best of luck with their IPO!
For more information: https://www.ft.com/content/175572ec-7740-46c9-8f20-fbe738ceb77c