LONDON – Next year, what would eventually become Dr Martens is 80 years old. Yes, in 1945 Dr. Klaus Maertens created an air-cushioned sole (rather than the traditional hard leather sole) to aid his recovery from a broken foot.
Of course, the legacy brand would go on to define eras, subcultures, rebellion, and individuality. Are you a 1460 boot traditionalist? Or perhaps you prefer Dr. Martens’ limited edition collaborations with The North Face, Supreme or GANNI. One thing is certain is that that Waxed leather, yellow stitching, slotted sole is unmistakably Dr. Martens.
But when was the last time you bought a pair?
It’s been a tough year for the boot legacy brand. Back in April 2024, Money Week asked the question: Dr Martens shares slump: should you give it the boot? It came after the brand's shares plummeted to an all time low.
Dr. Martens: Boots Like No Other
For more than six decades, Dr. Martens has walked the fine line between heritage and trend, with the 1460 boot serving as a symbol of rebellion and counterculture. But recently, the brand has stumbled. Chief executive Kenny Wilson will step down by March 2025 and has presided over five profit warnings.
Shares have fallen 85% since its 2021 IPO, giving the company a valuation of £670m from a £3.7b listing peak, according to FT.com.
Declining demand, particularly in the U.S., coupled with rising financial pressures, has led the brand to a critical juncture.
In an attempt to regain relevance, Dr. Martens wiped its Instagram feed in early October 2024, signalling a brand "reboot."
This “reboot” coincides with the launch of the experimental 14XX line. The 14XX is a range of modular, weatherproof boots designed to appeal to a new generation of fashion-forward consumers. “We are rebooting. Please remove all preconceptions,” read the IG announcement.
Dr. Martens purists, however, can take comfort. Despite its Instagram reboot and the launch of experimental products, the brand hasn’t abandoned its roots. Following the social media reset, Dr. Martens introduced its "Boots Like No Other" campaign, celebrating the beloved 1460 boot.
Speaking to Highsnobiety via email, Joel Wilson, Design Lead at Dr. Martens, emphasises, "The 1460 is a special silhouette to all of us. Expect new styles, iterations, and colours that honour the rich legacy of a brand still evolving, yet grounded in the very foundation that made it iconic."
The 14XX line and the accompanying AW24 campaign represent a purposeful step forward from the, at times, missteps of the 14XX array we’ve been seeing. Darren Leon McKoy, Dr. Martens’ Global Creative Director says, “Our design team is hungrier than ever for experimentation and to explore uncharted territories in terms of product innovation.”
Built on the 1460’s foundation, the collection infuses modern utility with avant-garde designs, featuring removable gaiters and weather-resistant leather. Yet, while the brand seeks to capture fresh attention, financial woes remain an obstacle. According to a Financial Times report, Dr. Martens carries £400 million in debt, further straining a company that’s grappling with shrinking online sales and weaker-than-expected revenue.
Just as trends rise and fall, legacy brands must continuously evolve to stay relevant. This AW24 “reboot” feels authentic; a brand taking back its soul.
Speaking at an Inc. event in September, global creative director Darren Leon Mckoy said, “It’s common for businesses to feel pressure to innovate and try introducing a new product, but [I’ve] learned to ask if it’s worth it. If changes are to be made, they don’t need to be radical.”
“Dr. Martens maintains the promotion of its classic shoes, the 1460 and Jadon boots and the 1461 Oxford loafers. The brand experiments with different leathers and might tweak a style, but otherwise, it keeps R&D minimal,” he said.
Dr. Martens’ challenge now is to find a balance between honouring its rebellious roots while innovating enough to stand out in an increasingly crowded market and generations to come.
Whether the reboot marks a new era or a last-ditch effort to stay afloat remains to be seen, but one thing is clear: Dr. Martens, once an icon of defiance, now faces the battle of the brand’s lifetime to remain culturally—and financially—relevant.
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