Dr Martens is moving closer to its highly anticipated initial public offering (IPO) with the appointment of two major American banks, Goldman Sachs and Morgan Stanley, by private equity owner Permira. The IPO will see Dr Martens listed on the London Stock Exchange, as reported by Sky News. This decision to go public follows a series of strong financial results for the brand, which Permira acquired in the early 2010s. In the year leading up to March 2020, Dr Martens’ underlying EBITDA nearly doubled. Although the impact of the pandemic on the company’s post-year-end trading remains uncertain, CEO Kenny Wilson has expressed confidence in the company’s strategy and future prospects.

Dr Martens is renowned for its iconic heavy-duty boots, which have experienced a surge in popularity in recent years. However, the brand’s appeal extends beyond trends, positioning it as a formidable player in the global footwear market. The valuation for the IPO has not been disclosed, but it is expected to exceed the £300 million price tag when Permira acquired the brand seven years ago. While there is a possibility of a single buyer emerging, previous attempts to secure a deal did not meet Permira’s expectations.

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