The Brexit trade agreement and the early launch of the Covid-19 vaccines increased sentiment about investments in the UK, said Susannah Streeter, senior investment and market analyst at Hargreaves Lansdown.
“Interest in IPOs was also fueled by the frenzy surrounding Airbnb and Doordash IPOs in the United States, which were in excessively large supply,” Streeter told CNN Business. Dr. Martens profited from switching to online shopping during the pandemic, but it also depends on “changing fashion tastes”, which may change in the future, she added.
The British brand launched its 1460 eight-hole boot in 1960. According to the company’s website, it was initially used by postmen and factory workers, but later acquired by young ska lovers who defended the style of the British working class.
Pete Townshend, from English rock band The Who, became the first celebrity to wear them, turning a work boot into a symbol of rebellious youth culture.
Permira bought Dr. Martens in 2014 for € 380 million ($ 462 million) and invested in its direct consumer channels, including its own physical stores and e-commerce.
Although most of its stores have been closed for months due to the pandemic, revenue in the six months to 30 September increased 18% to £ 318 million ($ 428 million) compared to the same period in 2019, according to the filing. .
The company sold 5.5 million pairs of shoes in that period – 700,000 more compared to the previous year – and doubled its e-commerce revenue.
CEO Kenny Wilson said the brand has “significant potential for global growth” in the future. “Our iconic brand attracts a wide range of consumers around the world who use our shoes to express their individual style,” he added.
– Julia Horowitz contributed reportingg.