Chunky boot maker Dr. Martens is looking to take itself public.
The UK-based footwear brand, popular with celebrities like Uma Thurman, Kristen Stewart and Gigi Hadid, wants to float about 25 percent of the company’s shares on the London Stock Exchange, according to a regulatory filing on Monday.
The company is currently owned by private-equity giant Permira, which bought the 60-year-old company from the Griggs family in 2013 in a $410 million deal and hopes to sell down its stake as part of the IPO.
In a statement, chief executive Kenny Wilson touted “the significant global growth potential for Dr. Martens in the future. Our iconic brand appeals to a diverse range of consumers around the world who wear our footwear to express their individual style.”
More than 11 million pairs of Dr. Martens shoes are sold each year in 60 countries. The company, with 130 stores around the world, had sales of $920 million in the 12 months through March 31 and made profits of $138 million, according to the filing.
It started out as a work boot but “was quickly adopted by youth cultures as a symbol of their individual self-expression and rebellious spirt,” according to the filing.
Dr. Martens is planning to file for IPO – New York Post