Dr Martens, the iconic boot brand, is set to cut up to £25 million in costs following a significant decline in profits. The company has reported a sharp fall in profits and revenues due to weak consumer demand in the lagging US market. Dr Martens described the past year as challenging and has labeled the current period as a 'year of transition.' In response to the financial struggles, the company plans to invest in marketing to bolster its performance. The company targets £25 million in savings as profits plummet.