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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