Russian billionaire eyes up Dr. Martens for £200 million Heritage shoe brand Dr. Martens has reportedly caught the eye of a Russian tycoon Mikhail Fridman, who could be about to fork out £200 million to purchase it. Pamplona Capital, an investment fund backed by tycoon Mikhail Fridman, is in the running to buy Dr Martens after it was put up for sale earlier this year. It was originally thought the company would fetch around £120 million, however the price soared amid strong interest, according to the The Sunday Times . READ: Agyness Deyn to collaborate with Dr. Martens The iconic boots were popular with punks and skinheads in the 1970s but have recently enjoyed a resurgence in popularity, delivering underlying profits of £22 million for the year March 2011 to March 2012. Growing sales in France, the US, Hong Kong, Sweden, Singapore and Canada have all contributed to the escalation. The brand now offers clothing and accessories as well as a wide range of footwear styles - with classic ankle boots and brogues amongst their most popular, and recognisable, shoes. Agyness Deyn is the current face (and feet) of the brand, and this August Dr. Martens will launch a limited edition collection of shoes, clothing and accessories designed in collaboration with the newly-married model. "The brand is a great fit for me, as it stands for strong character and being able to shape your own personal identity," Deyn told WWD in March. The footwear brand is currently owned by the Griggs family, who acquired it from its German founders in 1960. The brand's trademark boots were developed by Klaus Märtens, a doctor in the German army during World War II, after he received a skiing injury to his ankle and found his standard issue Army boots too uncomfortable to wear.