Dr Martens backs move to ‘protect’ brand from discounting despite revenue dip
The footwear firm has vowed to keep prioritising product marketing and “protect the brand” from heavy discounting.
Dr Martens has reported a 5% drop in its EMEA DTC revenue, despite overall Q3 group revenues rising by 3% (on a constant currency basis) to £267m.
A weaker performance in UK and Germany was attributed to the falling EMEA revenue, alongside “deep and prolonged discounts on the high street”, with Dr Martens not partaking in the same level of promotional activity as its competitors.
In a call with investors today (27 January) reporting the firm’s Q3 results, new CEO and former chief brand officer, Ije Nwokorie, said the company is still “pivoting our marketing to focus relentlessly on product” and is “squarely focused” on returning the business to sustainable and profitable growth.
