Dr Martens boosts revenue with expansion across Asia

 
Helen Cahill
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The shoe retailer has a store in Camden (Source: Dr Martens)

Shoe retailer Dr Martens' revenue jumped last year as it expanded its sales in Asia.

The figures

For the year to 31 March, the shoe retailer's group revenue jumped 25 per cent to £290.6m.

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Earnings before interest, tax, depreciation and amortisation grew 27 per cent to £37.5m, which Dr Martens said reflected its investment in new stores, products, and its online offering. Online sales soared 54 per cent to £32.4m.

Why it's interesting

The retailer, known for its grungy shoes, said it had been expanding its store footprint, especially in Asia. The brand opened 18 new stores globally, bringing its total store portfolio to 71.

Additionally, it set up a further 54 concessions in South Korea. Sales in Asia now represent nearly a quarter (23 per cent) of Dr Martens' total revenue. Jon Mortimore, Dr Martens' chief financial officer, said sales had been particularly strong in Japan.

What Dr Martens said

Paul Mason, chairman of Dr Martens, said: "Despite a challenging retail environment, we have delivered double-digital growth across all areas of the business and continue to see the investments in our people, structure and operations as an integral part of our aim to deliver long-term sustainable growth."

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