It looks like the famous sandal brand, Birkenstock, is gearing up to go public. There’s talk that they’re teaming up with L Catterton, a private equity company, to make it happen. Can you imagine? The valuation is said to be around a whopping $8 billion!
According to Bloomberg, the big day is set to take place in September when they hit the New York Stock Exchange. Neil Sauders, the retail managing director at GlobalData, thinks this move will give Birkenstock more freedom to raise funds and expand as an independent business. Quite exciting, right?
Birkenstock has been making headlines recently. They got a fantastic boost from featuring in the Barbie movie, and their “Boston” Clog became an internet sensation, selling out in no time. People were even willing to pay a premium for used pairs!
Before this public offering buzz, in March 2021, L Catterton acquired Birkenstock for about $4.1 billion from the founding family. What’s interesting is that other investors in that deal included a group associated with LVMH, the parent company of Louis Vuitton. Talk about some major players getting involved!
Last year, Birkenstock raked in a remarkable $1.3 billion in revenue, according to Bloomberg’s insider information from a lender presentation. That’s an impressive 29% increase from the previous year. They’re definitely on a roll!
We tried reaching out to both Birkenstock and L Catterton for a comment, but they haven’t responded yet. It’s all very hush-hush for now.
Anyway, keep your eyes peeled for updates. This is going to be an exciting ride for the stock market, and who knows, maybe it’ll put the stock in Birkenstock!
