The public offering of the iconic brand could bring in up to 50 multimillionaires.
The famous shoe brand Dr. Martens, the Permira company, has announced its plans for a public offering on the London Stock Exchange. It is expected that at least 25% of the world-renowned brand's business will be sold.
The sale of shares, as experts predict, will have a beneficial effect not only on the businesses that own them but also allow several individuals to become rich. The public offering will bring the partners of the private company Permira, which has owned Dr. Martens since 2014. The business's management, not just a large income but impressive sums. According to preliminary calculations, about 50 people will wake up as multimillionaires after the sale of shares.
It will happen thanks to the practice of "percentage income," through which a portion of the investment profits are given to the private company's teams and managers. This method makes it possible to encourage the company's managers and partners and interest them in the entire enterprise's success. The size of such a bonus usually amounts to about 8-20%. Still, when it comes to placement of shares of Dr. Martens, the brand, whose sales amounted to $900 million in March 2020, this bonus can turn into a multi-million dollar sum.
The exact amount of payments is unknown because of the number of shares sold, the number of people who will receive a bonus, and the conditions for its receipt. However, experts have named amounts ranging from 6.6 to 9 million pounds sterling ($9 to $12 million).
The famous Dr. Martens shoes came into being back in 1945 when their creator was a former soldier, Dr. Klaus Martens. Although initially considered suitable for the older generation, such shoes were discontinued because of their increased comfort. The brand reached its peak in the '60s when the Martens became an iconic item and a cultural symbol for an entire generation.
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