L Catterton, Birkenstock’s private-equity owner, is looking to take the Germany-based footwear manufacturer public in September in the U.S. at a valuation of more than $8 billion, sources told Bloomberg.
Goldman Sachs and JPMorgan are underwriting the IPO.
Deliberations are ongoing, and no final decisions on the size or timing of an IPO have been taken, according to the report. Birkenstock and L Catterton declined to comment.
Birkenstock’s revenue rose 29 percent to roughly €1.2 billion ($1.3 billion) last year, leading to adjusted earnings of €394 million, according to a lender presentation seen by Bloomberg. The brand has also recently caught major attention by being featured in the blockbuster Barbie movie, which stars Margot Robbie in the title role donning a pair of pink Birkenstocks in one scene.
L Catterton and the family investment company of billionaire and LVMH CEO Bernard Arnault acquired a majority stake in Birkenstock in April 2021. At the time, reports indicated Birkenstock had a value of about $4 billion.
Photo courtesy Birkenstock
