Dr Martens: The iconic British boot maker has struggled as a listed company
Dr Martens is being surrounded by some of the world’s top fashion companies and could be about to fall into the hands of foreign owners, The Mail on Sunday can reveal.
The iconic British boot maker has struggled as a company listed on the London Stock Exchange.
Dr Martens floated to great fanfare in January 2021 at a massive £3.7bn valuation.
But the Northamptonshire-based company has not lived up to its billing and shares have fallen 70 per cent in the last two years.
Located in the town of Wollaston, the company has been affected by problems in the United States, particularly at its Los Angeles distribution center.
Last week, Dr Martens issued a fifth profit warning in just three years and reshuffled its management team, replacing chief executive Kenny Wilson with Ije Nwokorie.
One hedge fund investor who asked not to be named said: “We met with management and there is something in sight.”
Possible suitors could include LVMH, owner of Louis Vuitton, as well as VF Corporation in the United States, the company behind Timberland, Vans and The North Face. Both declined to comment.
Peel Hunt analyst John Stevenson continued: “With the recovery held back by slower-moving wholesale markets, Dr Martens appears vulnerable to approaches.”
A Dr. Martens spokesman declined to comment.