L Catterton, a private equity firm backed by the luxury French fashion house LVMH, is planning an initial public offering (IPO) for Birkenstock in September. According to insiders, the listing could value the German sandal maker at as much as $10 billion.
Birkenstock’s sales have recently seen a significant boost, thanks in part to the company’s successful collaboration with Barbie. However, the discussions about the IPO’s size and timing are still ongoing, and no final decisions have been made.
Birkenstock, founded nearly 250 years ago, has evolved into a high-fashion brand, launching collaborations with luxury names such as Dior, Manolo Blahnik, Valentino, Celine, and Givenchy.
In the last year, Birkenstock saw its revenue rise by 29% to approximately €1.2 billion ($1.3 billion), leading to adjusted earnings of €394 million, according to a lender presentation seen by Bloomberg News. The company has been heavily investing in expanding its production sites in Germany, including a new €120 million factory in Pasewalk, a town north of Berlin.
The planned IPO of Birkenstock comes more than two years after L Catterton and the family investment company of billionaire Bernard Arnault acquired the company.