Already at the museum, the underground counter-culture of the 1960s is entering the stock market. British shoe brand Dr Martens (pronounced Doc Martens) announced on Monday January 11 that it wanted to enter London soon. The schedule has not yet been finalized. However, the company plans to list at least 25% of its capital, with an option for an additional 15%.
The operation is led by the investment fund Permira, which bought Doc Martens in early 2014 from the descendants of its founders for an amount of 300 million pounds sterling, or, at the time, around 360 million euros. “Our announcement of our intention to be listed reflects all that we have accomplished over the past seven years. What is even more important is the potential for significant growth in the world ”, says Kenny Wilson, CEO of the group since 2018.
The brand is known for its lace-up ankle boots on an air-cushioned sole developed by two German doctors, Klaus Maertens and Herbert Funk, after the war, and made by British industrialist Bill Griggs, a specialist in utility footwear, from 1960. The first model – an orthopedic shoe, but comfortable – is intended for workers, postmen and employees of the London Underground.
Alternative solution to sneakers from Nike and Adidas
Soon, however, this leather ankle boot, made in Wollaston, Northamptonshire (central England), was seen at the feet of British police officers as well as skinheads, then 1970s rock singers. Around the world, unconventional youth adopt it, to imitate Pete Townshend, singer of The Who, Patti Smith, Iggy Pop, The Sex Pistols or Robert Smith, of The Cure.
Doc Martens sells more than 11 million pairs a year, twice as many as two years ago, in more than 60 countries
A pair of Docs East today a standard model of the wardrobe, an alternative solution to the sneakers of Nike and Adidas that all generations adopt. The 1460 model (unchanged since its inception) is now available not only for men, but also for women and children, and not just in black.
Doc Martens now sells more than eleven million pairs a year, twice as many as two years ago, in more than sixty countries for an annual turnover of 672 million pounds (745 million euros , at the current price). Only part of its production leaves the Wollaston plant, which is being extended. The rest comes from Asia.
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