Dr Martens reveals plans to float on the London Stock Exchange, with hopes to expand the famous footwear firm

Dr Martens is planning to float on the London Stock Exchange in a move aimed at helping it expand, the famous footwear retailer has revealed.

In what is one of the first planned listings to be announced this year, the retailer said it is looking to trade on the main market of the London Stock Exchange.

The boot maker, which notched up revenues of £672 million in the year to March 2020, believes that it has a “significant opportunity” to expand in the £341 billion global footwear market.

The company sells in excess of 11 million pairs of footwear annually in more than 60 countries. 

It considers being a public company would help it expand further overseas  and further raise the profile of the business.

The update comes around two months after it was reported that the retailer’s majority owner, Permira, had appointed Goldman Sachs and Morgan Stanley to act as global coordinators on an initial public offering.

Paul Mason, chairman of Dr Martens, said: “We have made significant investment in the business over the last few years to strengthen the team, our operations and position ourselves for the next exciting stage of development, as a publicly listed company.”

Chief executive Kenny Wilson, said: “We have invested massively to ensure that we deliver the best digital and store experiences to connect with our wearers, and through this we are driving our long term, sustainable growth.”