Dr. Martens is planning a float on the London Stock Exchange, which will be one of the first major openings of 2021.
Permira owns the iconic footwear retailer, selling shoes in 60 countries around the world.
In the year that concluded Mach 2020, the group generated revenue of £672 million. For the six months ended September 30, 2020, the group’s revenue was £318.2 million, a growth of 18% year-on-year.
Chairman Paul Mason said: “We have been investing heavily in our business over the last few years, strengthening our team, our operations and as a publicly available company, we have made significant investments in our business towards the next exciting development stage. We also have a strong presence. We are committed to corporate governance and we are always making sure we do things the right way.”
Dr. Martens has worked with Goldman Sachs and Morgan Stanley prior to his flotation.
Chief Executive Kenny Wilson said: We have invested enormously to ensure we provide the best digital and storage experiences to connect with our wearers. Through this, we are promoting long-term, sustainable growth. ”
A strong deal last year has led retailers to pay back money from the government’s coronavirus employment retention scheme. Dr. Martens said in a statement: “Given the business’s transaction and financial resilience, the Board has decided to return taxpayer funds utilized from the UK Government’s Furlough scheme, which are currently being repaid.”
