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Bootmaker Dr. Martens Explores London IPO

Bootmaker Dr. Martens Explores London IPO

Dr. Martens, the maker of the chunky leather lace-up boots that were first embraced by skinheads and rockers, wants to join the establishment. The Bri

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Dr. Martens, the maker of the chunky leather lace-up boots that were first embraced by skinheads and rockers, wants to join the establishment.

The British footwear brand said Monday it had taken the first steps toward a listing on the London Stock Exchange , touting its potential for growth in big markets like the U.S. and China.

The potential listing would offer investors an opportunity to own a slice of one of the world’s most recognizable footwear brands. The company sells 11 million pairs of shoes in over 60 countries each year.

Dr. Martens said it generated sales of 672.2 million pounds, equivalent to $905 million, in the fiscal year to March, up 48% from the previous year. It said growth had been strong through the pandemic, helped by online sales.

The company has been owned since 2014 by private-equity firm Permira, which bought the business for 380 million euros, equivalent to $464 million. It plans to sell shares in the offering but didn’t disclose financial information about the IPO.

This post first appeared on wsj.com

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