Susannah Streeter, senior investment and market analyst at Hargreaves Lansdown, said the Brexit trade agreement and an early implementation of Covid-19 vaccines boosted sentiment towards UK investments.
“The interest in IPOs has also been boosted by the madness surrounding the Airbnb and Doordash IPOs in the US that have been greatly overwritten,” Streeter told CNN Business. Dr Martens has benefited from a move to online shopping during the pandemic, but it also depends on ‘fickle fashion tastes’ that may change in the future, she added.
The British brand introduced its distinctive eight-hole 1460 shoe in 1960 in 1960. According to the company’s website, it was initially worn by postmen and factory workers, but later picked up by ska-loving young people who advocated the British working class style.
Pete Townshend of English rock band The Who became the first celebrity to wear it, transforming a workwear boot into a symbol of rebellious youth culture.
Permira has Dr. Martens bought in 2014 for € 380 million ($ 462 million) and invests in its direct-to-consumer channels, including physical stores and e-commerce owned by the company.
Despite the fact that the majority of its stores were closed for months due to the pandemic, revenue increased by 18% during the six months to September 30 to £ 318 million ($ 428 million) compared to the same period in 2019, according to the submission.
The company sold 5.5 million pairs of shoes during that period – 700 000 more compared to the previous year – and double it revenue from e-commerce.
CEO Kenny Wilson said the brand has significant global growth potential in the future. “Our iconic brand appeals to a variety of consumers around the world who wear our shoes to express their individual style,” he added.
– Julia Horowitz contributed reportg.