The Brexit trade deal and the early launch of Covid-19 vaccines have boosted investment sentiment in the UK, said Susannah Streeter, senior investment and market analyst at Hargreaves Lansdown.
“Interest in IPOs has also been fueled by the frenzy surrounding US Airbnb and Doordash IPOs, which have been highly oversubscribed,” Streeter told CNN Business. Dr. Martens took advantage of a shift to online shopping during the pandemic, but also relied on “fickle fashion tastes,” which could change in the future, she added.
The British brand launched its 1460 boot in eight.
Pete Townshend of the English rock band The Who became the first celebrity to wear them, changing a work boot into a symbol of the culture of the young rebels.
Permira bought Dr. Martens in 2014 for EUR 380 million ($ 462 million) and invested in its direct channels to consumers, including the company’s physical stores and e-commerce.
Despite the fact that most of its stores were closed for months due to the pandemic, revenues from the last six months to September 30 increased by 18% to 318 million pounds ($ 428 million) compared to the same period. from 2019, according to the registration.
Company it sold 5.5 million pairs of shoes during that period – 700,000 more than the previous year – and doubled e-commerce revenues.
CEO Kenny Wilson said the brand has “significant potential for global growth” in the future. “Our iconic brand appeals to a wide range of consumers around the world who wear shoes to express their individual style,” he added.
– Julia Horowitz contributed to the reportingg.