Consumer
Dr. Martens Warns of US Tariff Hit, Plans to Shift Production
Dr. Martens said it’s on track to meet a full-year profit target of between £53 million ($69 million) to £60 million.
Photographer: Gareth Cattermole/Getty ImagesDr. Martens Plc is moving production of some of its footwear from Laos to Vietnam in a bid to mitigate the effect of US President Donald Trump’s tariffs.
The British bootmaker said the shift is part of a wider plan to offset a “high single digit” million-pound tariff hit this fiscal year. It also plans to increase the prices of some of its footwear, known for its distinctive thick sole, from January.