L Catterton could take Birkenstock public by September
Bloomberg reported, citing people familiar with the matter, a listing could value the German sandal maker at as much as $8bn.
The company’s sales have been boosted of late by the blockbuster Barbie movie which featured the shoe.
The people, who asked not to be identified, reportedly told Bloomberg that deliberations are ongoing and no final decisions on the size or timing of an IPO have been taken.
Representatives for Birkenstock and L Catterton did not return Just Style’s request for comment.
Last month, Neil Saunders, an analyst at GlobalData told Just Style he believed it is a good time for L Catterton to explore an IPO of Birkenstock.
He said: “Since it acquired the business, L Catterton has grown Birkenstock and increased the value of the company. It is likely satisfied with the progress and sees this as an opportune time to test the waters and see if there is any interest in a public offering.”
“An IPO would give Birkenstock more flexibility. As an independent business, it could raise funds for expansion and growth.”
“Birkenstock is a far more established and much older brand than many of the new direct to consumer upstarts, so that’s likely to work in its favour. The fact that L Catterton is exploring options suggests that they are cautious about the environment.”
L Catterton acquired Birkenstock in 2021 in a deal reportedly worth around €4bn.