Birkenstock, the German shoemaker increasingly embraced by the fashion world, has filed for an initial public offering (IPO) on the New York Stock Exchange. The strategic move reflects Birkenstock’s ambition to enhance its global presence.
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According to an earlier report by Bloomberg, the IPO could potentially value Birkenstock at over USD8 billion. The filing states the company witnessed a substantial growth in sales, soaring from EUR292 million in 2014 to an impressive EUR1.24 billion in 2022.
Following its acquisition by L Catterton, a private equity firm, and LVMH owner Bernard Arnault’s family investment company, in 2021, Birkenstock has actively collaborated with renowned shoe designers. The acquisition also aimed to foster growth in emerging markets for Birkenstock such as China and India.
Having seen a global renaissance in recent years, Birkenstock has cemented its cachet in the world of fashion through collaborations with the likes of Manolo Blahnik, Dior, Valentino Garavani, Rick Owens, and Staud.
In continuously diversifying its product offerings, the German shoemaker, which celebrates its 250th anniversary in 2024, looks to position itself more as a lifestyle brand.