Dr Martens news and archive

Dr Martens posts record FY revenue, but profits slip amid ‘operational mistakes’

British bootmaker Dr Martens reported record revenue surpassing 1 billion pounds in its preliminary results for the year ended March 31, but its profits took a hit. The company’s revenue jumped 10 percent in the year, or 4 percent on a constant currency basis, as a strong performance in EMEA offset a softer performance in America. “Reaching this...

BusinessFeatured

Dr. Martens lowers profit outlook, announces CFO retirement

Dr. Martens expects FY23 EBITDA to be around 245 million pounds due to higher costs at LA DC (Los Angeles distribution centre) and lower wholesale revenue. The company also announced that its chief financial officer Jon Mortimore has decided to retire from his role and he will continue to hold the position until a successor is in place. “We took...

BusinessFeatured

ELeather rebrands as Gen Phoenix and announces new funding

ELeather, the world’s first and only producer of sustainable recycled leather at scale, is rebranding as Gen Phoenix after securing 18 million US dollars in funding to further its mission to create premium and eco-conscious next-gen materials. In a statement, ELeather said it will now be called Gen Phoenix, a name inspired by the cyclical...

Business

Dr. Martens names new independent non-exec director

Footwear retailer Dr. Martens has announced the appointment of a new member of its board following a “comprehensive search and selection process”. Andrew Harrison will be joining the team as an independent non-executive director from May 1, selected for his experience in a number of listed companies. Harrison is currently a managing partner at...

BusinessFeatured

Dr Martens lowers FY guidance amid US warehouse issues

British brand Dr Martens has lowered its full-year profit guidance for the second time in two months amid supply chain disruption and a drop in DTC demand in the US. The company said Thursday it expects FY EBITDA of between 250 million pounds and 260 million pounds, which could be up to 25 million pounds lower than its previous estimate. Chief...

BusinessFeatured

Dr Martens revenue up 13 percent, but profits narrow

Dr Martens has reported narrowing profits for the first half of the year despite a 13 percent increase in revenue. The British bootmaker made a profit after tax of 44.7 million pounds in the six months to September 30, down from 48.6 million pounds a year earlier. Its EBITDA was flat at 88.8 million pounds. The drop in profit came as the company...

BusinessFeatured

Dr Martens posts record annual revenue, ups FY23 guidance

British bootmaker Dr Martens has upped its outlook for the fiscal year 2023 after reporting record revenue in the 12 months to March 2022. The brand made revenue of 908.3 million pounds in the year, an increase of 18 percent from a year earlier. The jump in revenue came as the company sold 14.1 million pairs of boots, shoes, and sandals - the...

Business

Dr Martens prepares to enter resale market with Depop

Dr Martens has revealed plans to enter the repair and resale market through a new collaboration with online second-hand marketplace Depop. The duo will be working on the heritage brand’s ReSouled scheme, in which used Dr Martens can be repolished, given new laces, soles, heel loops and insoles before they are put back onto the market at around...

PeopleFeatured

Dr Martens taps new global creative director

Bootmaker Dr Martens has named Darren McKoy as its new global creative director. McKoy, affectionately known as DMac, first joined Dr Martens' product team back in 2015, before working his way up the ranks to serve as global category product director. He has now been promoted to the creative helm of the iconic British label. Prior to joining Dr...

Business

Dr Martens awards all staff 500 pounds worth of shares

Dr Martens has awarded shares to approximately 2500 employees as the British footwear company saw a growth in revenue. In its trading update, Dr Martens said it sold a record 6.3 million pairs of shoes during the period, experienced online growth and benefited from shops reopening from lockdown. With pre-tax profits for first half year sales up...

Fashion

Streetwear sandals: Dr. Martens x Suicoke

British bootmaker Dr. Martens who has been into collaborations with other brands and stores like Atmos, JJJJound and Rick Owens to expand its offer, has most recently teamed up with Japanese footwear brand Suicoke. The result is an exclusive sandal collection that pairs Suicoke’s slip-on Mura model with Dr Martens’ custom Lorsan outsole. “...

Fashion

Anime meets boots: Atmos x Dr Martens

British bootmaker Dr Martens has collaborated for a second time in 2021 with Japanese sneaker shop Atmos: The result is an anime-inspired, premium take on the utilitarian “Tarik” boot whose design draws on the parallels between the strong visuals of streetwear and the bold, arresting graphics of Japanese anime. Dr Martens Combining streetwear...