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Home / World / Dr. Martens is considering an IPO in London​​

Dr. Martens is considering an IPO in London​​



The company sells 11 million pairs of shoes in more than 60 countries/regions each year. The company said in a document on Monday that the initial public offering will require existing owners, including private equity firm Permira, to sell at least 25% of the shares. No new shares will be issued.
Dr. Martens has joined a growing list of companies that are expected to conduct IPOs in London this year. According to stockbroker IG, although no one has confirmed the listing, food delivery company Deliveroo, McLaren Group, Jaguar Land Rover and craft brewer BrewDog may be considering an IPO.

Susannah Streeter, senior investment and market analyst at Hargreaves Lansdown, said the Brexit trade agreement and the early launch of the Covid-1

9 vaccine have boosted confidence in UK investment.

After falling 14.3% in 2020, FTSE 100 (UKX) Increased by 5.5% compared to last year S&P 500 (SPX) Refinitiv’s data shows that the gain is 1.8%. The Standard & Poor’s 500 Index rose 16.3% last year.

Streeter told CNN Business: “The enthusiasm surrounding Airbnb and Doordash’s U.S. initial public offerings has also greatly increased interest in IPOs,” she added, adding that during the popular period, Dr. Martens has gained from switching to online shopping. Benefits, but it also relies on “changeable fashion taste”, which may change in the future.

The British brand launched the iconic eight-hole 1460 boots in 1960. According to the company’s website, it was originally worn by postmen and factory workers, and later favored by young Scanner lovers who embraced the British working-class style.

Pete Townshend of the British rock band The Who became the first celebrity to wear them, turning the boots of work clothes into a symbol of rebellious youth culture.

Permira acquired Dr. Martens for 380 million euros ($462 million) in 2014 and invested in its direct-to-consumer channels, including company-owned physical stores and e-commerce.

The document shows that despite the fact that most of its stores were closed for several months due to the influenza pandemic, revenue for the six months ended September 30 increased by 18% compared to the same period in 2019, reaching 318 million pounds (428 million). US dollars).

the company 5.5 million pairs of shoes were sold during this period -An increase of 700,000 from the previous year-and double it E-commerce revenue.

CEO Kenny Wilson said the brand has “huge global growth potential” in the future. He added: “Our iconic brand attracts different consumers from all over the world, who wear our shoes to express their style.”

—Julia Horowitz contributed the reportG.


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