Birkenstock Steps Back Into the Spotlight, Files for NYSE Listing — Retail Bum

German footwear company Birkenstock filed for an initial public offering (IPO) on Tuesday, September 12, 2023.

While specific details regarding the share price and terms of the share sale remain undisclosed for the time being, the IPO could fetch the company a valuation exceeding $8 billion.

The company intends to list its shares on the New York Stock Exchange using the symbol BIRK. Goldman Sachs Group Inc., JPMorgan Chase & Co., and Morgan Stanley are serving as its lead underwriters.

The company’s decision to file for an IPO follows a period of impressive revenue growth. In 2022, the clog maker disclosed approximately $1.3 billion in revenue, marking an 18% increase in revenue from 2018 to 2022.

Just two years ago, private equity firm L Catterton, which LVMH backs, acquired a majority stake in the brand in a deal that valued the company at $4.3 billion.

With a rich heritage spanning nearly 250 years, Birkenstock has seamlessly transformed its iconic sandals into sought-after fashion statements. The brand has collaborated with prestigious luxury names like Dior, Manolo Blahnik, and Valentino. Birkenstock’s distinctive style has also served as a muse, inspiring upscale interpretations by other renowned labels…