Dr Martens (LON: DOCS) has got off to a good start as a listed company. The footwear manufacturer has jumped from the offer price of 370p to 500p in barely more than a fortnight. It may be difficult to warrant any further short-term share price increase.
Dr Martens is undoubtedly a strong and recognisable brand with a loyal customer base. The management team is experienced, and they have been involved in the management of brands, such as Levis, Lacoste and Cath Kidston.
There is a wide spread of international sales and a good online presence. Three-fifths of sales are the original boots.
The strategy is to double revenues, which will significantly boost profit if gross margins can be maintained at around 60%.
In the year to March 2020, revenues were £672.2m and unde...