Significant annual growth for Dr Martens

Worldwide
Published:  13 August, 2020
Dr Martens' Camden store in London, UK

The iconic British footwear brand has posted revenue up 48% to £672.2 million (US$877.3 million) for the year ending March 31, 2020.

Dr Martens has posted 93% underlying EBITDA growth during the financial year, with strong double-digit growth across all key regions. Operating profit was up 110% in the period, to £142.5 million (US$186 million) and gross margin increased by 2.4 percentage points to 59.7% (2019: 57.3%), attributed to an improved channel mix, an increased mix of higher margin product, coupled with reduced discounting and lower production costs due to improved supply chain efficiencies. The company said it continues to make significant progress against its strategic priorities, particularly in growing its Direct to Consumer (DTC) channels. During the lockdown across different regions due to the Covid-19, Dr Martens said it has observed continued strong growth in e-commerce revenue, resulting in a modest overall impact from the store closures to date. Revenue increased 48% in the EMEA in the year, +57% in the Americas and +35% in the APAC. The Group opened 16 new stores during the financial year, including in France, Germany, Hong Kong and the U.S., bringing the total to 122 worldwide.

Dr Marten's factory