Birkenstock Files for IPO in the US
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.
