Dr Martens has formally confirmed its intention to float on the London Stock Exchange, which could see the business valued at over £3bn+. The final valuation will be led by Morgan Stanley and Goldman Sachs, and the process will see current owner Permira sell down its stake.
The business operates in 60 countries around the world and sells more than eleven million pairs of shoes a year.
Dr Martens says its sales during the half-year to September 30th reached £318.2 million with an EBITDA of £86.3 million. Its direct to consumer division grew revenues by 34 per cent during the period and is believed to offer continued growth opportunities.
Chair Paul Mason says the move marks an important opportunity for the business.
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