Dr Martens appoints banks to lead IPO

Dr Martens has picked Goldman Sachs and Morgan Stanley to coordinate the company’s initial public offering (IPO) next year.

The British fashion retailer was bought by Permira in 2014 for £350m.

In the year to March 31, the company recorded a 48% rise in revenue to £672.2m. Operating profit surged by 110% to £142.5m.

Lastest results are likely to be impacted by the Coronavirus pandemic, however, chief executive Kenny Wilson said that despite the “volatile and uncertain trading environment, we have a very clear strategy in place supported by a strong brand and consumer connections, and I am confident in the outlook for the business”.

Last year, Dr Martens saw profits surge by 70% thanks to the “vegan” range of boots.