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Dr Martens sales spike with Asia demand

Dr Martens has posted a 25% rise in revenue to £290.6m in the year to 31 March, bolstered by its growing popularity in Asian markets.

Revenue in Japan leapt by 88% to £22m during the year, with Asia accounting for 23% of global sales after increasing by 43% to £66.4m.

The British footwear brand, which is owned by private equity firm Permira, highlighted Japan and South Korea as its key performers.

Global retail revenues grew by 38% to £78.9m, while online soared by 54% to £32.4m. EBITDA rose 27% to £37.5m.

Paul Mason, chairman at Dr Martens, said: “Despite a challenging retail environment, we have delivered double-digit growth across all areas of the business and continue to see the investments in our people, structure and operations as an integral part of our aim to deliver long-term sustainable growth.”

Permira bought the brand in 2013. The business is looking for a new chief executive after Steve Murray stepped down this month.

Chairman Paul Mason, the former boss of Asda and Matalan, is overseeing the company in the interim.

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