Dr Martens news and archive

Dr Martens head office roles at risk of redundancy

Footwear specialist Dr Martens is believed to have put around 150 roles at its UK and US head offices at risk of redundancy as part of an ongoing cost-saving plan. It is understood that a consultation phase with the impacted employees is already underway according to Drapers, which initially reported the news. Those affected include employees at...

Business

Dr. Martens offers short update to current trading

Footwear specialist Dr. Martens has offered a short update on its current trading performance ahead of its annual general meeting. While shareholders may be waiting for some positive news, however, it appears that such a scenario may not be on the horizon. In a regulatory filing, the company said that since the start of this financial year,...

Business

Dr. Martens majority owner restructures shareholding

The majority ownership of footwear specialist Dr. Martens has seen a notable shift following a restructuring of holdings within the company’s top investor. Permira V Fund has implemented a restructuring of its holding share in Dr. Martens, through which the newly incorporated Guernsey-based firm, IngreGrsy Limited, has replaced Luxembourg...

BusinessFeatured

Dr. Martens posts negative results driven by weak US consumer demand

In a preliminary results announcement for the full year, Dr. Martens reported revenue decline of 12 percent or 10 percent in constant currency, with DTC revenue up 2 percent or 5 percent constant currency offset by wholesale revenue down 28 percent or 26 percent constant currency driven by USA wholesale. For the first half, the company expects a...

PeopleFeatured

Dr. Martens names new CEO, projects challenging FY25

Dr. Martens expects its FY24 results to be in line with guidance with direct to consumer (DTC) achieving high single-digit growth in the fourth quarter, compared with a 3 percent decline in the previous quarter as a result of good growth across EMEA, a flat outcome in the USA and a very strong result in APAC, led by Japan. However, for FY25, the...

Business

Dr. Martens sues Temu for trademark infringement

Footwear specialist Dr. Martens is preparing to take on Temu for alleged trademark infringement, launching a lawsuit in an attempt to halt the Chinese marketplace from using keywords associated with the brand. The legal action was taken to the UK’s High Court, according to a report by the Times, for which a case filing alleged that Temu had been...

Business

Dr. Martens shareholder reportedly pushing for strategic review

A shareholder for Dr. Martens is believed to be urging the boot maker to begin a strategic review that could end with a sale in a bid to secure a stronger share price. According to a letter seen by Reuters, investment firm Marathon Partners Equity Management is calling for such a process due to a stalled earnings growth and sharp share price...

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Dr. Martens launches reclaimed leather collection

British heritage footwear brand Dr. Martens is continuing to push its sustainability initiatives with its first collection made from reclaimed leather. The Genix Nappa collection has been fully made from reclaimed leather using leather offcuts from tanneries that would have otherwise been destined for landfill. The offcuts are put through a...

Fashion

Dr. Martens launches new repair service

British footwear brand Dr. Martens has teamed up with footwear restorers The Boot Repair Co. to launch a new repair service in the UK to prolong the life of its boots, shoes, sandals, and accessories. The authorised repairs will utilise the same machines, methods and materials used on new pairs of Dr. Martens and will offer more than 10...

Business

Dr Martens: Quarterly sales fall by 21 percent

British footwear supplier Dr Martens Plc suffered a significant drop in sales in the third quarter of the 2023/24 financial year, not least due to weak business in the US and in wholesale. This was revealed in an interim statement published by the company on Thursday. According to the statement, sales in the period from October to December...

Business

Dr. Martens posts decline in H1 sales and profit

Dr. Martens first half revenue was down 5 percent or 3 percent constant currency, driven by weakness in USA wholesale. The company’s DTC revenues rose 9 percent or 11 percent constant currency to 50 percent mix, while retail revenue was up 15 percent or 17 percent constant currency and ecommerce increased 3 percent or 5 percent on a constant...

People

Ije Nwokorie to join Dr. Martens as chief brand officer

Dr. Martens non-executive director Ije Nwokorie will join the business as chief brand officer from February 1, 2024. On appointment into this role, the company said in a release, Nwokorie will cease to be a member of the board and will step down as a member of the audit and risk, nomination and disclosure committees. Commenting on Nwokorie’s...