May 30 (Reuters) - Struggling British boot maker Dr Martens' new finance chief announced a plan targeting cost savings of 20 million-25 million pounds ($25.38 million-$31.72 million) on Thursday, amid growing pressure on the company to shore up its finances.

Facing rising inflation and economic uncertainty, consumer interest in luxury items such as the company's classic lace-up boots, which start at 159 pounds, has decreased, putting pressure on Dr Martens to improve its performance amid investor concerns.

Earlier this month, sources told Reuters that investment firm Marathon Partners Equity Management urged the boot maker to detail planned expense cuts and to buy back stock.

Giles Wilson, who took the helm as the CFO earlier this month, said the company would see the benefits of the plan from fiscal 2026 and would undertake "operational streamlining", among other steps, to implement the plan.

The company, which makes leather lace-up boots with yellow stitching commonly known as "DMs", also expects group revenue to dip by 20% in the first half of this year, with wholesale revenues falling by a third.

"Combined with the cost headwinds which impact both halves (of the current year), the impact of operational deleverage is significantly more pronounced in the first half," Dr Martens said.

($1 = 0.7881 pounds) (Reporting by Echha Jain in Bengaluru; Editing by Rashmi Aich)