World Footwear

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Dr. Martens sale rumors intensify

Dec 3, 2019 United Kingdom
Dr. Martens sale rumors intensify
American-based investment firm Carlyle Group is reportedly in the race for British footwear brand Dr. Martens
Permira, the owner of the iconic British footwear brand, is exploring the possibility of a sale or IPO of Dr. Martens brand in 2020. And private equity group Carlyle is considering a bid for the British brand. Some news agencies are reporting the deal could reach 1 billion British pounds.

According to Bloomberg, owner Pemira has brought on advisors to explore their options. No official confirmation was made regarding the interested parties or even regarding the sale will proceed.

Permira, the UK-based investment company, acquired the brand Dr. Martens 5 years paying 340 million euros, and has been rebuilding and expanding the business, both on the offline and online channels. Back in the summer, when announcing its annual figures, Dr. Martens confirmed turnover growth of 30% for the year (reaching 454 million pounds (520 million euros)), while its gross operating profit even increased by 70% to 85 million pounds (100 million euros).

As reported by the worldfootwear.com yesterday (READ ALL ABOUT IT HERE) Permira is considered a strong contender for the acquisition of Golden Goose, while it faces the competition of private equity Advent and other industry players including giant US-based VF Corporation.

Image credits: Dr Martens Official Instagram

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