Dr Martens Announces £25m Cost-Cutting Plan Amid Sharp Profit Decline

The iconic footwear brand faces significant revenue drops and weak US demand, prompting strategic measures.

Dr Martens plans to save up to £25 million through organizational efficiency and streamlined operations.
The company reported a 43% drop in profits and a 12% decline in revenue for the past financial year.
Weak consumer demand in the US, its largest market, significantly impacted sales.
CEO Kenny Wilson will step down, with Ije Nwokorie set to take over by year-end.
Increased marketing investment in the US is part of the recovery strategy for future growth.