Dr. Martens returns to profit growth as it shifts to 'consumer-first' model

Dr. Martens has reported a return to profit growth for the financial year ending 29 March 2026, with pre-tax profit (PBT) rising 61% as the business continued its transition from a channel-led to a consumer-first operating model.

Group revenue reached £764.9 million (£776.3 million at constant currency), down 2.9% on a reported basis and 1.4% at constant currency, in line with company guidance.

The business said the decline reflected its strategy to improve revenue quality by reducing clearance activity in direct-to-consumer (DTC) and off-price wholesale channels.

The Americas was the company’s strongest-performing region during the year. In EMEA, revenue declined overall despite growth in wholesale sales, while DTC performance was affected by increased consumer participation in clearance activity.

APAC revenue remained broadly flat, but Dr. Martens highlighted "strong" full-price retail performance in South Korea.

Dr Martens also expanded its international distribution footprint through new or expanded partnerships in Latin America, the UAE and the Philippines.

Overall shoe revenue increased 19%, supported by styles such as the Lowell and Buzz silhouettes, alongside established products including the 1461 Shoe, Adrian Tassel Loafer and Mary Jane.

The company said FY25 focused on stabilising the business, while FY26 centred on pivoting to a consumer-first model. This included reducing clearance activity across both DTC and wholesale operations, restructuring leadership teams and simplifying the operating model to improve accountability.

Looking ahead, Dr Martens said FY27 marks the beginning of the “scale” phase of its "“Levers for Growth” strategy, which is structured around three pillars: stabilise, pivot and scale. Planned investments include increased brand spending and upgrades to selected retail stores.

Ije Nwokorie, CEO at Dr. Martens, said: "There is still work to do in pivoting the business, however in FY27 we will also enter the scale phase of our strategy. Desire for the Dr. Martens Brand continues to grow, with more collaborators approaching us, increased wholesale partner support, strong consumer response to new product families, and an excited reaction from the market to our first beacon store on Brewer Street, London.

"In FY27, we will lean in with increased investment in the brand and targeted retail store upgrades, as well as continuing to build strong wholesale partner relationships to support demand at scale. With the operating model reset, key capabilities in place, combined with good visibility of our wholesale order books, our business is now well setup to deliver both our FY27 objectives and medium‑term targets."

The results follow the company’s recently announced restructuring of its senior leadership team, including the appointment of General Managers for several key markets as part of efforts to simplify operations and strengthen local consumer engagement.

The updated structure sees dedicated leaders overseeing six major markets that together account for approximately 80% of Dr. Martens’ global revenues. Newly appointed General Managers include Nick Duff for the UK, Nathalie Schneider for France, Kristin Staeren for the DACH region and Giorgio Trevisan for Italy.