
Birkenstock, the iconic footwear company that dates back to the 18th century, made official on Tuesday what’s been rumored for months: it's planning an initial public offering. The company filed its IPO registration statement on Tuesday afternoon. The deal, which comes over two years after the Birkenstock family sold a majority stake in the company to LVMH-affiliated private equity firm L Catterton, is drawing attention for the growth it’s seen since the investor buyout, and a bump for the brand after its recent cameo in the wildly popular movie “Barbie.”
Total Retail's Take: After the brand was sold out of family ownership in 2021 to LVMH-backed private equity firm L Catterton, rumors of Birkenstock being taken public began swirling. That's not surprising given the growth trajectory that Birkenstock is on. Annual revenue has increased from roughly $781 million in 2020 to over $1.3 billion in 2022, a 31 percent annual growth rate. The IPO filing didn't include a potential valuation, but it disclosed that net revenue for the six months ended March 31 rose 19 percent to $692.9 million. Yet it's interesting that three years ago thinking that family-owned Birkenstock, known for its quality products, loyal customer base, and fierce protection of its brand, would become a publicly traded company would have been nearly inconceivable. Goes to show how quickly the retail landscape evolves.

Joe Keenan is the executive editor of Total Retail. Joe has more than 10 years experience covering the retail industry, and enjoys profiling innovative companies and people in the space.