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Dr Martens take steps towards financial recovery

Martin Heath
BBC News, Northamptonshire
PA Media
Getty Images A pair of black shoes with yellow stitching, medal studs, an orange DMs logo in a circle, a small Union Jack flag and a skull incorporated into the designGetty Images
Several designs of Dr Martens boots have been produced over the years

The makers of the iconic Dr Martens footwear range said better sales in the US have signalled the start of the firm's recovery.

The company, based in Wollaston, Northamptonshire, saw its turnover drop by just 3% over the last three months of 2024

The figure for the last quarter of 2023 was 18%.

Doc Martens' new chief executive said he had "great confidence" for the year ahead.

The Dr Martens design originated in Germany in the 1940s and production started in the UK in 1959 when the Northamptonshire-based Griggs Group bought patent rights.

The familiar yellow-stitched boots, made at the factory in Cobbs Lane, Wollaston, have been bought by famous names from the Sex Pistols to the Dalai Lama.

The Pope's Swiss Guard were provided with Dr Martens boots during the Pontificate of John Paul II.

Getty Images Elton John wearing a cap and very long white trousers with giant black Dr Martens boots on his feet. He is singing on a stage with people behind him swinging their arms to the music. There is a row of footlights in front of the crowd. The picture is in black and white from the 1970s.Getty Images
In the rock opera Tommy, Elton John had to wear callipers that allowed him to move on his 4ft 6in (137cm) Dr Martens as if he were on stilts

The firm has seen revenues drop in recent years, exacerbated by the cost-of-living crisis.

It has issued several profit warnings and replaced its chief executive.

The company's US revenue over the festive quarter fell 4% year on year, compared with 20% in the previous quarter.

Google Light-brown brick-built two-storey factory with small square windows and yellow Dr Marten's logo on the front of the building. There are steps to the front entrance and there are two palm trees in the foreground.Google
The brand is based at the firm's factory in Wollaston, Northamptonshire

Falls in European revenue also eased, from 18% in the previous quarter to 4% in last three months of 2024.

Dr Martens expects overall turnover for the full year to be down 9% compared with the previous year, at £599m.

Ije Nwokorie became chief executive of the company earlier this month and said he had "great confidence" for the year ahead.

He added that plans to reduce excess stock were "on track" and that the company continued to "actively manage our costs".

He said: "The team and I are squarely focused on returning the business to sustainable and profitable growth."

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