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Dr Martens puts up £200m price tag as second round bids due

The owners of Dr Martens are reportedly looking for £200m for the footwear brand, which was put up for sale in February.

According to The Independent, the price tag of £200m, is significantly more than was first expected for the brand, whose owners R Griggs Group appointed investment bank Rothschild in February to seek out potential buyers.

Second-round bids for the brand are due this week and private equity firm Electra Partners is among those bidders thought to be in the running.

The company has enjoyed a turnaround in recent years after nearly going under a decade ago. Last year revenue shot up 33% to £110m with the US accounting for half its sales.

Pre-tax profits more than tripled to £15.3m, driven by growing sales in more than 60 countries including France, the US, Hong Kong, Sweden and Canada.

However, according to the paper’s sources, trade over recent weeks is thought to have slowed slightly and some are questioning whether the footwear brand can reach the £200m price tag.

Dr Martens boots were originally designed as standard footwear for the German army. The brand now sells boots, shoes and clothing under the Dr Martens label.

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