According to reports, private-equity group Carlyle is considering a more-than-£1 billion bid for British footwear brand Dr Martens. Reports suggest current owner Permira, a European investment company, has engaged Goldman Sachs and another firm to evaluate options for the future of the Dr Martens business. An IPO is also a possibility.

No firm offer has been lodged as yet and there is no guarantee a sale will proceed. None of the three parties have commented publicly on the reports.

Permira paid £300 million for Dr Martens in 2014 and has since rebuilt and expanded the business through both physical stores and online. It now has 109 standalone stores worldwide in addition to a presence in a vast network of multi-brand footwear retailers.

With suggestions the footwear brand could now be worth as much as £1.2 billion, Permira is likely to earn a massive return on its investment.

According to Bloomberg, the company’s earnings before interest and tax rose 70% last year to £85 million.