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Doc Marten Boot company up for sale

British boot and shoemaker Dr Martens put up for sale by R Griggs Group

British boot and shoemaker Dr Martens has been put up for sale by R Griggs Group, which has owned it for more than 50 years. It could fetch as much as £120m.

The firm, which makes fashionable footwear in the style of the one pictured on the front of a shop in Camden, North London, is run by Max Griggs.

A giant Union Jack Dr Martens boot above a shop in Camden High Street, London

Best foot forward: Pre-tax profits at Dr Martens more than tripled last year

His father bought the design rights – originally standard boots for the German army – after the Second World War.

It was struggling to survive ten years ago, but revenue jumped 33 per cent to £110m last year. Pre-tax profits more than tripled to £15.3m.

Dr Martens has become an inconic brand, favoured variously over the years by punks, skinhead and goths and more recently once again in mainstream fashion.

The last year has seen Dr Marten open more stores in the U.S., which accounts for 42 per cent of sales, and also grew sales in Asia.

Current owner Max Griggs’ father, Reginald, bought the rights to Dr Martens boots from its German owners after the Second World War. The boots were originally designed by Dr Klaus Maertens. The signature air-cushioned sole was originally made with abandoned rubber from Luftwaffe airfields.

The first eight-eyelet boot – with its distinctive yellow stitching and black and yellow heel loop – entered production in the UK in 1960.

In 2000 Dr Martens moved production to China and Thailand. But R Griggs reopened the brand’s original factory at Wollaston, in Northamptonshire, in 2007 to produce vintage styles.
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