- Huw Hughes |
American investment firm Carlyle Group LP is reportedly mulling a bid for British footwear brand Dr Martens.
Carlyle is in early talks over a potential offer, though no decision has been made and other bidders could emerge, Bloomberg reports, citing people familiar with the matter.
The British brand, known for its counterculture punk style, is currently owned by rival investment firm Permira, which bought the brand from the founding Griggs family in 2014 for 380 million pounds. Earlier this year, it was reported that the firm was working with Goldman Sachs Group Inc. and Robert W. Baird & Co to consider selling the bootmaker or floating it on the US stock market.
None of the parties involved have confirmed or denied the rumoured talks.
Dr Martens has enjoyed healthy growth under Permira. For the year ended 31 March 2019, the brand reported a 20 percent increase in total revenue to 348.6 million pounds, while EBITDA rose by 33 percent to 50 million pounds.
Retail revenue at the brand rose by 30 percent to 126.7 million pounds, while e-commerce increase by 67 percent to 72.7 million pounds.
During the year, the British brand opened 20 new stores.
Photo credit: Dr Martens, Facebook