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Birkenstock Files for IPO in Further Boost to US Market

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(Bloomberg) -- Birkenstock has filed for an initial public offering, in another sign of the allure US equity markets hold for European firms seeking a valuation uplift.Most Read from BloombergApple iPhone 15 Event Will Tout Enhanced Camera, Titanium FinishTrudeau Is Stuck in India With Faulty Aircraft After Hearing Criticism From ModiThe Mighty American Consumer Is About to Hit a Wall, Investors SayApple to Sell Made-in-India iPhones on Launch Day for First TimeBP CEO Looney Quits Over Past Rela

The German footwear maker, whose iconic sandals are worn by hippies and preppies alike, will continue to be controlled by private equity firm L Catterton, according to a filing on Tuesday. The company will disclose the proposed terms of the share sale in a later filing with the US Securities and Exchange Commission.

Founded nearly 250 years ago, Birkenstock developed a contoured insole for greater comfort. The modern, cork-lined sandals took hold in the 1970s, as shoppers from the US Southwest to Europe became enamored with the comfy style. Birkenstock has since become a high-fashion brand, launching collaborations with luxury names such as Dior, Manolo Blahnik and Valentino, and spawning variants from labels including Celine and Givenchy.

Sales have been boosted of late by the blockbuster Barbie movie, whose star Margot Robbie sports a pair of pink Birkenstocks in one scene.

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Birkenstock Files for IPO in Further Boost to US Equities MarketBirkenstock has filed for an initial public offering, in another sign of the allure US equity markets hold for European firms seeking a valuation uplift.
Source: BNNBloomberg - 🏆 83. / 50 Read more »