In the 2019 fiscal year ended March 31, the British footwear brand Dr Martens (Dr. Martin, commonly known as " Martin boots ") under the European private equity fund Permira, markets around the world performed well, with significant online sales The rise has pushed the company's total sales and profits to achieve considerable growth. What is commendable is that during the subsequent outbreaks in Europe and the United States, the brand still achieved sales growth due to the promotion of e-commerce business.
For the fiscal year 2019 ending March 31, Dr Martens’ key financial data are as follows:
- sales increased by 48% to 672.2 million pounds
- operating profit increased by 110% to 142.5 million pounds
- direct-to-consumer e-commerce business and physical stores Business sales increased by 51% to 301.6 million pounds
- wholesale business sales increased by 45% to 370.6 million pounds
Dr Martens said that double-digit sales growth was achieved in all major markets because it was in this year Expanded direct-to-consumer sales channels and opened more than ten new flagship stores. Currently Dr Martens has 122 stores worldwide. Kenny Wilson, CEO of
, said that in the last fiscal year, “we achieved extraordinary growth thanks to our consumer-oriented strategy and continued business investment.”
But after March 31, Dr Martens was also affected by the new crown epidemic. All its stores in EMEA (Europe, Middle East and Africa), Japan and the United States are temporarily closed, and only stores in Hong Kong and South Korea and third-party suppliers in China are still open. Kenny Wilson outlined in a statement the company's difficult situation in the summer of 2020, and these results will be announced in next year's financial report.
As of now, almost all Dr Martens stores have reopened. The flexible e-commerce business boosted Dr Martens' sales during the epidemic. Kenny Wilson said: "So far this fiscal year, as e-commerce has offset losses in other areas, we have maintained growth. Our strategy has always been digital first, which clearly puts us in a good position to deal with the issue of store closures. "
The company also refunded the £1,000 vacation allowance per person given by the British government for the hard-hit companies. Kenny Wilson said: “We are convinced that we have considerable liquidity and can complete all payments due. When we see that the company maintains a positive sales momentum, we know that the government must return the money.”
Kenny Wilson admitted that the current trading environment is "Unstable and uncertain", but he said that because the company "implemented a very clear strategy with the support of a strong brand and consumer relationship," he is confident about the future.
reported last year that Permira is preparing to withdraw from its investment in Dr. Martens in 2020 and is cooperating with Goldman Sachs (Goldman Sachs) and Robert W Baird to plan to sell or list Dr. Martens in the United States-Permira gave The valuation of up to 1.2 billion pounds is about 14 times the brand's EBITDA (earnings before interest, taxes, depreciation and amortization). (For details, see Luxe.Co: private equity fund Permira wants to sell the "Martin boots" Dr. Martens brand, with a valuation of up to 1.2 billion pounds ) It is reported that the US private equity investment giant Carlyle Group (Carlyle Group) is one of the potential buyers One.
