Revenue and profit are down at Dr. Martens, as the iconic Northamptonshire shoe brand shares its ‘Levers For Growth’ to establish the business “as the world’s most-desired premium footwear brand.”
According to preliminary results for the 52 weeks ended 30 March 2025, group revenue was down 8% at £787.6m, against a challenging macroeconomic and consumer backdrop in several of the firm’s core markets. Meanwhile, adjusted profit before tax dropped to £34.1m from £97.2m.
The company, however, highlighted its “strong delivery” against its FY25 objectives, which are guiding towards a return to profit growth in FY26.
The year saw Dr. Martens return its direct-to-consumer channel in the Americas back to growth, its marketing approach reset to focus on product, £25m of annualised cost savings delivered, and the business’s balance sheet strengthened ahead of target.
Ije Nwokorie, CEO, said: “Our single focus in FY25 was to bring stability back to Dr. Martens. We have achieved this by returning our direct-to-consumer channel in the Americas back to growth, resetting our marketing approach to focus relentlessly on our products, delivering cost savings, and significantly strengthening our balance sheet.
“We are today sharing our Levers For Growth, which will increase our opportunities by shifting the business from a channel-first to a consumer-first mindset.
“We will give more people more reasons to buy more of our products, whether that’s our iconic boots and shoes, newer product families such as Zebzag and Buzz, or adjacent categories such as sandals, bags and leather goods. And we will tailor distribution to each market, blending DTC and B2B, optimising brand reach and ensuring a better use of capital.
“I am laser-focused on day-to-day execution, managing costs and maintaining our operational discipline while we navigate the current macroeconomic uncertainties. Looking ahead, there are significant markets for us to grow into, and we currently own just 0.7% of a total relevant market of £179bn.
“This, combined with the enduring demand for our products, the robustness of our operations, the strength of our cashflow generation and balance sheet and the expertise of our people, gives me confidence that we will deliver the sustainable, profitable growth that this brand is capable of.”
