Dr Martens put up for sale

Classic British boot and shoemaker, Dr Martens, has been put up for sale by R Griggs Group.

The family owned boot and shoemaker is set to fetch as much as 120m.

The company have been making Dr Martens for over 50 years, and saw a impressive resurgence over the past few years.

Favoured by punks, Goths and skinheads, R Griggs made a robust pre-tax profit of £15.3 million, up from £5m the previous year. Sales also grew to £110.2m from £82.9m as the group also open more stores in the US, which accounts for 42 per cent of sales.

The fashionable footwear brand, began as standard boots for the German army after WW2, but design rights were brought by Max Griggs father.

The first eight-eyelet boot – with its distinctive yellow welt stitching and famous black and yellow heel loop – entered production in the UK in 1960.

A slump in 2000 saw the British manufacturer move production to China and Thailand. But R Griggs reopened the brand’s original factory at Wollaston, in Northamptonshire, in 2007 to produce vintage styles of the classic British boot.