Dr Martens on sale: Premira looks for potential buyer

Premira disinvest in fashion. The investment fund is looking for potential buyers for Dr Marten. Premira acquired the brand in 2014 for 300 million pounds (377 million dollars), over 14-times the company’s ebitda, according to WWD. Premira had also considered listing in the stock exchange.

Dr Martens grew 30% last year, up to 454.4 million pounds (574.3 million dollars) due to the boost of direct to consumer revenue, which increased 42%. The company also boosted its store network with twenty new openings, up to a total of 109 stores.

Dr Martens’ revenue was 454.4 million pounds (574.3 million dollars) in 2018

Thanks to this expansion, its direct to consumer profit (including online sales) reached 199.4 million pounds (252 million dollars). About 67% of this result was reached thanks to the brand’s ecommerce business.

The company’s earnings before interest, taxes, depreciation and amortization totaled 85 million pounds (107 million dollars) last year, an increase of 70% compared to 2017. The company is lead by Kenny Wilson, that was named CEO after joining the company coming from Cath Kidston.

Dr Martens was founded in 1947 by German doctor Klaus Märtens, who invented its iconic boots after an accident in its ankle. The golden era of the company arrived in the seventies, when punk and skinhead cultures took them as part od their identity.