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Birkenstock IPO: Is it happening soon?

September 2, 2023 12:39 pm
Published by: Benjamin Baxter

Birkenstock has been around since the late 18th century. This German footwear company is known for making some of the most comfortable and durable footwear around.

They’re also popular thanks to their eco-friendly manufacturing process, unique styles, and comfortable designs.

Then, thanks to its appearance in the recently released “Barbie” movie, it got even more publicity, giving the brand name a nice marketing boost.

Following this recent rise to fame, especially among the younger generation, the company reported its plans to file for an IPO.

When will this lucrative public offering be? And what will be the estimated Birkenstock valuation?

Let’s find out.

Birkenstock IPO: The Full Rundown

Birkenstock has plans to launch an initial public offering (IPO) before the end of 2023. The exact date hasn’t been set, but according to several sources, it could be as early as the next few weeks.

However, deliberations with the banks underwriting the deal are still ongoing. So, there haven’t been any final decisions as to the size or timing of the IPO.

The one thing we do know is that the deal is reported to put the company’s valuation at $8 billion. Some say that once the public offering goes live, this amount may go as high as a whopping $10 billion!

Who Owns Birkenstock Stock?

For over two decades, Birkenstock continued to be owned by its founder, Johann Adam Birkenstock and his heirs.

Then, in 2021, L Catterton, an American private equity firm based in Greenwich, Connecticut, purchased the brand for nearly $4.3 billion. The equity firm is financially backed by the French luxury fashion brand LVMH.

Since the German footwear company is still privately held, the stocks are owned by L Catterton, which is currently the world’s largest growth investor primarily focused on the consumer goods industry. Birkenstock is also owned by Financière Agache, a holding company managed by Agache.

The Importance Behind Going Public

One reason behind the company’s inability to decide on a definitive date for its IPO is that the IPO market has been struggling for quite some time now. This is due to economic uncertainty coupled with rising interest rates worldwide.

In fact, some estimate that there have been only 150 IPOs since 2022. Compared to the 416 IPOs filed in 2021, it goes to show how flimsy and lacing the economy has been.

Nevertheless, Birkenstock is adamant about expanding globally and financially. And the best way to do that is to file for an IPO.

A Bright Future Ahead

We mentioned above how sales rose in recent weeks, along with name recognition, after the “Barbie” movie premiered. Yet, Birkenstock revenues have been continuously on the rise over the years, even when the economy was unstable.

Last year, the company reported a 30% increase in revenues to $1.3 billion, or a little over 1 billion euros.

To capitalise on this continued success, Birkenstock decided to expand its manufacturing capacity and broke ground on a new factory located north of Berlin in 2021. This factory, which is currently in the final stages of construction, will be its 17th operational site in Germany.

The footwear conglomerate also operates sales offices in multiple other countries on almost every continent around the globe.

So, it seems logical that the next step for this German sandal maker would be to be registered as a publicly owned company. Once it goes public, it can set up its stock symbol and begin having its shares traded on the stock exchange. After that, depending on supply and demand, its share prices can then be determined.

In Conclusion

When Birkenstock IPO goes live, it’ll become more than just one of the top five footwear brands in the world. It’ll stand on equal footing with some of the most financially successful footwear companies in history!

The information in this article is well-researched and factual. Still, it contains opinions also, and IT IS NOT FINANCIAL ADVICE and should not be interpreted as such, do not make any financial decisions based on the information in this article; we are not financial advisors. We are journalists. You should always consult with a professional before making any investment decisions. We hold no stock or interests in any of the Companies discussed on this website/app.

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