Stomping off for £120m
By Emma Haslett Monday, 06 February 2012
Stat of the day: Iconic bootmaker Dr Martens has been put up for sale for £120m by its owner, R Griggs Group.
They’ve been a symbol of youth rebellion since the 1960s, and now Dr Martens has been put up for sale by its owner, R Griggs group, for a whopping £120m. The shoes were developed by R Griggs owner Bill Griggs, along with two German scientists (Drs Maertens and Funck – in hindsight, we’d say they made a mistake when it came to naming them) back in the late 1950s. The first boot, with its trademark ‘Air-wear’ soles, rolled off the production line on April 1, 1960.
While the boots had their heyday during the punk movement, they’ve had something of a resurgence of late: having struggled to survive during the late 90s and early noughties, revenues jumped by a third to £110m last year, with pre-tax profits rising to £15.3m. That’s worth kicking off about…
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