Dr Martens: The iconic British bootmaker has been struggling as a listed company
Dr Martens is being circled by some of the world’s leading fashion companies and could be about to fall into the hands of foreign owners, The Mail on Sunday can reveal.
The iconic British bootmaker has been struggling as a listed company on the London Stock Exchange.
Dr Martens floated to much fanfare in January 2021 with a massive £3.7billion valuation.
But the Northamptonshire-based company has failed to live up to its billing and shares have tumbled by 70 per cent over the past two years.
Situated in the village of Wollaston, the business has been dogged by problems in the United States, in particular its Los Angeles distribution centre.
Last week Dr Martens unveiled a fifth profit warning in just three years and shook up its management team, replacing chief executive Kenny Wilson with Ije Nwokorie.
A hedge fund investor who asked not to be named said: ‘We met with management and there’s something in the offing.’
Potential suitors could include Louis Vuitton owner LVMH as well as VF Corporation in the US, the company behind Timberland, Vans and the North Face. Both declined to comment.
John Stevenson, analyst at Peel Hunt, continued: ‘With recovery held back by slower-moving wholesale markets, Dr Martens looks vulnerable to approaches.’
A spokesman for Dr Martens declined to comment.
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