Birkenstock Eyes September IPO Valued at More Than $8 Billion USD
Deliberations are still ongoing.
L Catterton, the private equity firm behind Birkenstock, is preparing to launch an initial public offering (IPO) for the German sandal purveyor as soon as September, according to sources via Bloomberg. The listing may value the fan-favorite footwear label at more than $8 billion USD.
Last month, news surfaced confirming that L Catteron was in talks with investors, including Goldman Sachs and JPMorgan, regarding Birkenstock’s next steps. While deliberations are still ongoing, previous reports suggested the shoemaker could be valued at $6 billion USD. That figure has now jumped by 33%, and according to additional sources, the IPO could value Birkenstock at up to $10 billion USD.
In recent weeks, the brand has witnessed an uptick in sales, thanks to a cameo in Greta Girwig’s Barbie, which includes a scene of Margot Barbie’s titular character wearing a pair of Brikenstock’s pink sandals. In 2022, the company reported revenues of approximately $1.3 billion USD, marking a 29% increase from the year prior. The company has since dedicated funds to building out a new production plant in Germany, which includes a new $131 million USD factory in a small town north of Berlin.
The Birkenstock IPO would arrive just two years after L Catterton, backed by LVMH, purchased a majority stake in the company, valuing it at roughly $4.35 billion USD. The listing’s timing has not yet been confirmed.
In more footwear news, take an official look at the Nike Dunk Low “Green Snakeskin.”
