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Birkenstock, the German shoe manufacturer, is one step closer to listing in the United States. Scheduled for September, it should be valued at $8 billion. A strategic move that makes sense in view of the brand’s growing reputation and recent results.
German footwear brand Birkenstock plans to launch its US IPO in September, valued at an estimated $8 billion. L Catterton, a private equity firm backed by French luxury group LVMH, is in charge of the initiative. They are collaborating with Goldman Sachs Group Inc. and JPMorgan Chase & Co. to consider the listing.
The IPO could potentially value the German sandal manufacturer at $10 billion, according to sources. Birkenstock recently enjoyed a sales surge thanks to the success of the movie Barbie, in which actress Margot Robbie wears a pair of pink Birkenstocks in a key scene.
Although discussions are ongoing, no final decision has been taken on the size or timing of the IPO. Representatives of Birkenstock and L Catterton have chosen not to comment on this information due to its confidential nature. It should be noted that a hint of information was revealed by Bloomberg News at the beginning of July, which the interested parties also declined to comment on. In the meantime, the value of the Birkenstock brand has risen.
This IPO comes more than two years after L Catterton and billionaire Bernard Arnault’s family investment company acquired a majority stake in Birkenstock, valuing the company at around 4 billion euros.
A company on the rise
Founded almost 250 years ago, Birkenstock is today a fashion accessory brand, collaborating with luxury brands such as Dior, Manolo Blahnik and Valentino, and giving birth to variations of brands such as Céline and Givenchy. Its sandals have been sold in the USA since 1966.
Last year, Birkenstock reported a 29% increase in sales to around 1.2 billion euros ($1.3 billion), with adjusted earnings of 394 million euros, according to a presentation by the lender seen by Bloomberg News. The company has also invested heavily in expanding its production facilities in Germany, including a new 120 million euro plant in Pasewalk, a town north of Berlin.
This IPO comes against the backdrop of the recent successful IPO of restaurant chain Cava Group, which marked the revival of the IPO market after an 18-month slump. Cava’s shares almost doubled when they were launched in June, and the company’s IPO contributed to the first consecutive month in which more than $1 billion has been raised in IPOs on US markets since the autumn of last year.
The prospect of Birkenstock being listed on the US stock exchange looks promising, and the company hopes to expand into markets such as India and China, while continuing to grow in America and Europe.
Read also >LVMH: a possible IPO for Birkenstock at over $6 billion
Featured photo : ©Birkenstock[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]
Birkenstock, the German shoe manufacturer, is one step closer to listing in the United States. Scheduled for September, it should be valued at $8 billion. A strategic move that makes sense in view of the brand’s growing reputation and recent results.
German footwear brand Birkenstock plans to launch its US IPO in September, valued at an estimated $8 billion. L Catterton, a private equity firm backed by French luxury group LVMH, is in charge of the initiative. They are collaborating with Goldman Sachs Group Inc. and JPMorgan Chase & Co. to consider the listing.
The IPO could potentially value the German sandal manufacturer at $10 billion, according to sources. Birkenstock recently enjoyed a sales surge thanks to the success of the movie Barbie, in which actress Margot Robbie wears a pair of pink Birkenstocks in a key scene.
Although discussions are ongoing, no final decision has been taken on the size or timing of the IPO. Representatives of Birkenstock and L Catterton have chosen not to comment on this information due to its confidential nature. It should be noted that a hint of information was revealed by Bloomberg News at the beginning of July, which the interested parties also declined to comment on. In the meantime, the value of the Birkenstock brand has risen.
This IPO comes more than two years after L Catterton and billionaire Bernard Arnault’s family investment company acquired a majority stake in Birkenstock, valuing the company at around 4 billion euros.
A company on the rise
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Birkenstock, the German shoe manufacturer, is one step closer to listing in the United States. Scheduled for September, it should be valued at $8 billion. A strategic move that makes sense in view of the brand’s growing reputation and recent results.
German footwear brand Birkenstock plans to launch its US IPO in September, valued at an estimated $8 billion. L Catterton, a private equity firm backed by French luxury group LVMH, is in charge of the initiative. They are collaborating with Goldman Sachs Group Inc. and JPMorgan Chase & Co. to consider the listing.
The IPO could potentially value the German sandal manufacturer at $10 billion, according to sources. Birkenstock recently enjoyed a sales surge thanks to the success of the movie Barbie, in which actress Margot Robbie wears a pair of pink Birkenstocks in a key scene.
Although discussions are ongoing, no final decision has been taken on the size or timing of the IPO. Representatives of Birkenstock and L Catterton have chosen not to comment on this information due to its confidential nature. It should be noted that a hint of information was revealed by Bloomberg News at the beginning of July, which the interested parties also declined to comment on. In the meantime, the value of the Birkenstock brand has risen.
This IPO comes more than two years after L Catterton and billionaire Bernard Arnault’s family investment company acquired a majority stake in Birkenstock, valuing the company at around 4 billion euros.
A company on the rise
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