Dr. Martens steps up sales growth

Dr. Martens saw sales increase 20% in the year to March 2018

22 October 2018

A flurry of store openings has helped Dr Martens to step up sales, the British footwear brand said on Monday.

The Camden Town-headquartered boots maker added 25 shops to its estate in the year to March, including nine in the UK. It now has 94 sites.

Revenues jumped 20% to £348.6 million in the period, and comparable sales rose 7%.

Dr. Martens, which counts singer Pharrell Williams as a fan and remains popular with punk culture, said its bestselling product was £130 1460 Black Smooth boots.

It also pointed to strong demand for kids’ footwear and growth in online sales.

Underlying profits increased 33% to £50 million at the company, which is owned by private-equity firm Permira.

Dr.Martens’ chief executive Kenny Wilson said it was an “outstanding year”.

Chairman Paul Mason said: “This, in the context of the wider macroeconomic uncertainty that exists in a few of our key markets, is testament to both the strength of our brand, our heritage and consumer proposition and the execution of our strategy.”

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