As an Amazon Associate I earn from qualifying purchases from amazon.co.uk

Dr Martens shoe prices to rise by £10 over increasing costs

The price of Dr Martens’ iconic boots will rise by £10 a pair next summer due to increases in the cost of raw materials and transport.

The British shoemaker said in its half-year report that the prices would rise in both its Europe and US markets for the first time in two years.

It comes as the company said it had been absorbing the steadily rising costs of freight, raw materials like leather, metal eyelets, and soles, as well as labour, until now.

Kenny Wilson, chief executive of Dr Martens, told the Guardian that the popular brand is seeing “general inflation in everything in every market”.

“We have been holding off on price increases, but we will need to [change that] as of autumn/winter next year.”

The price increase is likely to be implemented in July 2022 and will push the price of Dr Martens’ classic 1460 eight-holed boots from £149 to £159 a pair.

Despite reporting a 46 per cent rise in pre-tax profit for the six months to the end of September, the company warned that supply chain problems were expected to continue into its next financial year.

An estimated £20m worth of wholesale sales were delayed into the second half of the year due to ongoing shipping delays to North America.

Dr Martens also revealed that lockdown restrictions had impacted its sales, particularly in Japan.

The shoemakers are based in Wollaston, Northamptonshire, and have been in business since 1947. The company started off producing working men’s boots, but the shoes became fashionable among youth subcultures such as skinheads and punks in the 1970s.

Today, Dr Martens has 147 stores around the world, with 2,500 employees. Of that, 1,400 staff are in Britain alone.



Source link

TINDERON
Logo
Enable registration in settings - general
Compare items
  • Total (0)
Compare
0
Shopping cart