Dr Martens’ owner – private equity firm Permira – is looking to sell the shoe brand for £1bn.

The famous shoe brand is set to double underlying earnings to £170m for the year ending in March 2019, after it recorded a 70% surge in EBITDA to £85m during the previous year.

Direct-to-consumer sales spiked 42% to £199.4m during the 12 months. Revenues through its store network jumped 30% to £454.4m and were up 18% on a like-for-like basis, while ecommerce sales rocketed 67% to £72.7m.

Permira bought Dr Martens six years ago for £300m and recently appointed former Cath Kidston boss Kenny Wilson at its chief executive to help steer the business towards a sale.

Wilson has increased the sales made through the retailer’s own-brand website and bricks-and-mortar stores.

Dr Martens now has 109 stores worldwide and registered a 30% increase in sales to £454.4m last year.

Carlyle, the buyout firm, is reportedly considering buying Dr Martens, according to The Times.

Read more:  Analysis: How Dr Martens made direct to consumer its stomping ground

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