Dr Martens to introduce recycled leather

The boot brand is among a group of investors to inject $18m (£14.5m) into recycled leather manufacturer Gen Phoenix. Luxury US fashion house Tapestry, which owns brands such as Coach, Kate Spade and Stuart Weitzman, has also taken part in the funding.

Dr Martens is set to start using the recycled leather produced by Gen Phoenix for some product ranges by early next year.

Kenny Wilson, CEO of Dr Martens, said: "This is an exciting partnership and supports our wider strategy that focuses on the sustainability of our products, our impact on the planet and how we treat people.

"A key part of this strategy is integrating more sustainable and traceable materials without compromising quality, style, comfort, or durability. Gen Phoenix's tech platform will allow us to introduce materials into parts of our ranges that will help us progress our commitment for all our footwear to be made from sustainable materials and achieving net zero by 2040."

In January, Dr Martens reported "excellent" peak trading, but was hit by a distribution "bottleneck" in the US that hampered sales. It reported a 9% rise in total revenue to £335.9m for the three months to 31 December 2022 – up 27% on the preceding quarter, but was below expectations.