Despite dip in annual sales, Dr Martens to open 100 new stores

Footwear retailer Dr Martens has reported a 4 percent decline in annual sales to 232.4 million pounds, states a Retail Gazette report. However, the company has also announced plans to open 100 new stores and shop-in-shops over the next five years.

During the year, under review, the company launched 11 new store and 9 shop-in-shops, while pulling shutters on 250 wholesale points. Wholesale revenues for the year slid 14 percent.

To focus on direct-to-consumer retail

Since the company witnessed 24.3 percent rise in physical and online retail sales to 160.2 million pounds (202 million dollars), Dr Martens has decided to invest in upgrading and expanding it direct to consumer retail channel.

The company’s sales were also driven by international market with 79 percent of the total revenues contributed by markets outside of the UK and 19 percent coming from Asia, the report added. The company also saw positive sales momentum in its DM’s Lite range.

Picture:Dr Martens