Dr. Martens the British footwear brands which also makes a range of accessories – shoe care products, clothing, luggage is being sold off to investment firm Permira for $300 million. The British footwear brand was created by Klaus Märtens in 1945 who was a doctor in the German army during WWII. His brand didn’t become what is it today until he join in partnership with Dr. Herbert Funck in 1947. They opened a factory in Munich in1952. In 1959, the company had grown large enough that Märtens and Funck begin to start marketing the footwear internationally.
British shoe manufacturer R. Griggs Group Ltd. bought the rights to manufacture the shoes in the United Kingdom. The first Dr. Martens boots in the UK came out in April 1960 (known as style 1460 and still in production today), with an eight-eyelet Ox Blood Smooth leather design. Originally Dr. Martens were made in their Cobbs Lane factory (which is still working today.
According to reports the company turned down an offer of £200 million for the brand last year, But in coming week the deal is set to close with the Griggs family to gain £300 million in the deal with Permira joining a host of fashion brands such as Hugo Boss in Permira’s portfolio.