Licensing tie-ups help Dr Martens to profit growth

Collaborations were just what Dr Martens ordered, as growing licensing business and forays into vegan leather yield profit growth of more than two thirds in the year ended March 2019

Written by Rhys Thomas

Posted 14.08.2019 | Apparel

Licensing tie-ups help Dr Martens to profit growth thumbnail

Collaborative tie-ups with the likes of the Sex Pistols and designer Marc Jacobs helped boost profits at Dr. Martens by more than two thirds in the year ending 31 March 2019.

Profits grew 70 per cent to £85m, up from £50m in 2018, on group revenue of £454m, a 30 per cent leap on the previous year.

The bootmaker has been prodigious in its pursuit of licensed partnerships in recent months, already this year releasing ranges with The Who and Lazy Oaf. Other partnerships riffing on the best-known styles of its shoes, sandals and boots have also gone down well, designed in collaboration with Japanese labels such as United Arrows, Undercover and Beams.

Other departures from its signature leather boots also paid dividends. A new vegan range, which replaces the leather upper with a synthetic material, was snapped up by fashion- and animal welfare-conscious consumers.

 

Kenny Wilson, the CEO of Dr. Martens who just completed an impressive first year in the job, says: “This has been another outstanding year for Dr. Martens and I am incredibly proud to be leading such an iconic and authentic brand. 

"With our relentless focus on the consumer and a mindset of continuous investment, we are committed to growing the brand for the long term while staying true to our purpose of empowering rebellious self-expression.


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