Fashion

Dr Martens could be bought by American investment firm


Dr Martens could be bought by American investment firm

American investment firm Carlyle Group LP is reportedly mulling a bid
for British footwear brand Dr Martens.

Carlyle is in early talks over a potential offer, though no decision has
been made and other bidders could emerge, Bloomberg reports, citing people
familiar with the matter.

The British brand, known for its counterculture punk style, is currently
owned by rival investment firm Permira, which bought the brand from the
founding Griggs family in 2014 for 380 million pounds. Earlier this year,
it was reported that the firm was working with Goldman Sachs Group Inc. and
Robert W. Baird & Co to consider selling the bootmaker or
floating it on the US stock market.

None of the parties involved have confirmed or denied the rumoured
talks.

Dr Martens has enjoyed healthy growth under Permira. For the year ended
31 March 2019, the brand reported a 20 percent increase in total revenue to
348.6 million pounds, while EBITDA rose by 33 percent to 50 million
pounds.

Retail revenue at the brand rose by 30 percent to 126.7 million pounds,
while e-commerce increase by 67 percent to 72.7 million pounds.

During the year, the British brand opened 20 new stores.

Photo credit: Dr Martens, Facebook



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