Birkenstock owner eyes $8bn IPO
The private equity firm behind the Birkenstock German sandal brand is considering an initial public offering of the company.
According to The Financial Times, this could take place as early as September with the company valued at more than $8 billion.
Backed by luxury group LVMH, L Catterton acquired a majority stake in Birkenstock in 2021, although two members of the Birkenstock family have retained a minority share. Back then, L Catterton said it would be investing in expanding the brand in Europe and North America while growing its presence in future markets, particularly in China and Asia.
Tracing its roots back to 1774, Birkenstock currently has around 3,000 employees and is the German footwear industry’s largest employer. Its products are sold in 90 countries on all continents.
Earlier this month, L Catterton-backed Oddity Tech made its debut on the Nasdaq stock exchange. The company is the name behind the Il Makiage and Spoiled Child make-up brands.
