Birkenstock files for IPO in further boost to US market

📆 13/09/2023 13:41:00
📰 Moneyweb

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The IPO could value Birkenstock at more than $8bn.

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.

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 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 increased during that period from €292 million in 2014 to €1.24 billion in 2022, according to the filing.

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