Dr. Martens “outstanding year” sees group revenue up 30%
Dr. Martens has today announced full year results for the year ended 31 March 2019, in which it has delivered a 30% growth in group revenue to £454.4m and 70% EBITDA growth to £85m.
The brand has seen strong double-digit growth across all key regions and channels, in particular e-commerce with revenue up 67% to £72.7m.
Retail like-for-like revenue was up 18%, while wholesale revenue was up 23% to £255m. Direct to consumer revenue was up 42% to £199.4m – from £140.7m in 2018.
Dr. Martens CEO Kenny Wilson, said: “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.”
With a continued focus on sustainable global retail growth, Dr. Martens opened 20 new stores in the year in key target locations. They included eight across Europe with two in the UK, two in France and three in Germany. There has also been four new stores in the US - in New York and Los Angeles - six in Japan and two in Hong Kong, taking the year-end total of owned stores globally to 109.
Across all geographies and all channels the iconic 1460 boot was still the number one sold item. The 1461 was the number two sold item, and at number three was the 2976 Chelsea boot. Overall volume of pairs sold for the year was up 20% to 8.3m pairs.
Wilson added: “By putting consumers first, accelerating our direct to consumer expansion and improving our operational performance we have delivered double digit revenue growth in all of our key markets and strong EBITDA performance.
“We look forward to the year ahead, during which we expect to deliver continued strong growth and accelerate the many positive trends seen in the past year.”