In the medium term, the UK-based company expects to achieve sustainable, profitable revenue growth above the rate of the relevant footwear market, driven by operating leverage and underpinned by strong cash generation. The company’s strategy is underpinned by an expansion of its products (sandals, bags, and other adjacent categories), an improved omnichannel experience tailored to each market, more consumer engagement and a simplified organisation model.

“We are today sharing our Levers For Growth, which will increase our opportunities by shifting the business from a channel-first to a consumer-first mindset. We will give more people more reasons to buy more of our products, whether that’s our iconic boots and shoes, newer product families such as Zebzag and Buzz, or adjacent categories such as sandals, bags and leather goods. And we will tailor distribution to each market, blending DTC and B2B, optimising brand reach and ensuring a better use of capital”, announced Ije Nwokorie, Chief Executive Officer of Dr. Martens. 

This new strategy follows the company’s delivery of fiscal year 2025 results in line with expectations and improvements in core markets such as the US.

Full Year Results 

In the fiscal year that ended on the 30^th of March, the company’s revenue decreased by 10% (or 8% on a constant currency basis) to 787.6 million British pounds (929.6 million euros), as compared to the previous fiscal year. This was in line with guidance and against a challenging macroeconomic and consumer backdrop in several of its core markets. 

Dr. Martens recorded full year revenue of 384.2 million British pounds (454.0 million euros) in the EMEA region, down by 11% (or 10% in constant currency) year-on-year, driven by its weaker performance in the UK. The company also recorded full year revenue of 114.9 million British pounds (135.7 million euros) in the APAC region, down by 3.8% (or 0.6% in constant currency), with strong performances in Japan and China.

In the Americas region, its full year revenue was 288.5 million British pounds (340.6 million euros), a decline of 11.4% (or 9.7% on a constant currency basis) year-on-year. Although the wholesale channel recorded a decline of 23.0% (or 20.9% on a constant currency basis), Dr. Martens highlighted an improvement in the US in the second half of the year, with group retail revenue returning to a year-on-year flat line in the fourth quarter. 

Despite the volatility of the tariff situation, Dr. Martens is optimistic about its performance in the US market. “We generate strong product gross margins, which is helpful given that tariffs are charged on cost, not retail price. We will continue to assess the situation carefully but can confirm that for SS25 and AW25 we will be keeping average prices unchanged in the market. More broadly, we continue to manage all costs tightly, working closely with our wholesale and supplier partners”. 

The footwear company reported an adjusted profit before tax of 34.1 million British pounds (40.2 million euros) in the fiscal year 2025, as compared to 40.3 million British pounds (47.6 million euros) in the previous year. Adjusted earnings per share were 2.4 pence (2.8 cents), as compared to adjusted earnings per share of 7.4 pence (8.9 cents) in the previous year.