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Dr. Martens reports strong full year growth

Footwear brand Dr. Martens has reported strong sales growth in its results for the year to 31 March.

FASHION

Dr. Martens reports strong full year growth

The company achieved 25% growth in group revenue to £290.6 million. In addition, there was a 38% increase in retail revenue to £78.9 million.

Meanwhile, EBITDA was up 27% to £37.5 million in the period following investment in new stores, ecommerce and new products

Paul Mason, chairman of Dr. Martens, said: “Despite a challenging retail environment, we have delivered double digit growth across all areas of the business and continue to see the investments in our people, structure and operations as an integral part of our aim to deliver long-term sustainable growth. The strong performance we have seen demonstrates that our strategy is the right one.”

Ecommerce sales rose by 54% in the year and now account for 11% of total revenue. The company said direct to consumer channels now represent 38% of total revenue.

At the end of the financial year, Dr. Martens had 71 owned stores and 54 concessions in South Korea.

Mason thanked outgoing chief executive Steve Mason for driving the business forward in his three years in the role.

He added: “As we enter the next phase of our history, we are well placed to deliver on our strategic priorities, and achieve sustainable, global growth.”

 

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