General Info
About the company
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NameBirkenstock
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IndustryShoe manufacturing
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Employees5,000+
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Founding year1774
Filing Information
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IPO File DateSeptember 12, 2023
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ExchangeThe New York Stock Exchange
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BookrunnersGoldman Sachs, Morgan Stanley, and JPMorgan Chase & Co.
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No. of Shares ReleasedTBD
IPO Details
What is Birkenstock?
Birkenstock, or Birkenstock Holding Limited, is a German shoemaker famous for its comfy sandals and other footwear with cork soles.
The Company's Roots
Founded back in 1774 by Johann Adam Birkenstock, the company calls Neustadt, Germany, its home base. By 1925, Birkenstock sandals were a hit all across Europe. In 1966, a dressmaker and designer named Margot Fraser brought Birkenstocks to the USA. Fast forward to February 2021, and L Catterton, a private equity firm backed by Bernard Arnault's LVMH, agreed to buy Birkenstock, valuing it at roughly €4 billion.
When is the IPO Happening?
Birkenstock started its IPO roadshow on September 12th, 2023. The actual IPO launch could be as soon as one to two weeks after the roadshow wraps up, potentially near October 10th. The exact timing depends on factors like price adjustments and paperwork hiccups.
Birkenstock IPO Stats
Experts are thinking Birkenstock's IPO in 2023 could value the company at around $8 billion, but that number might change during the roadshow or when the price range is set. Last year, Birkenstock raked in about $1.3 billion, up nearly 30%.
More About Birkenstock
Birkenstock got a boost in 1986 when Nordstrom became the first department store to stock its signature sandals, turning them into a high-fashion brand. The '90s saw a sales spike thanks to celebs like supermodel Kate Moss rocking Birkenstocks. Most recently, the Barbie movie featuring Margot Robbie wearing pink Birkenstock sandals gave the brand another popularity boost.
- In September 2023, Birkenstock opened a new factory in Germany.
- The company has teamed up with luxury giants like Dior, Manolo Blahnik, and Valentino.
- Sales and Google searches for Birkenstocks shot up thanks to the Barbie movie.
- Birkenstock shoes are available in 90 countries across the globe, with eight sites in Germany and more distribution spots in the USA, UK, Brazil, China, Hong Kong, Japan, Denmark, Slovakia, and Spain.
- The estimated IPO valuation for Birkenstock is hovering around $8 billion.
Sources: Investopedia, Fortune, El Pais, sec.gov
Summary
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NameBirkenstock
-
Employees5,000+
-
Founding year1774
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IPO File DateSeptember 12, 2023
-
ExchangeThe New York Stock Exchange
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BookrunnersGoldman Sachs, Morgan Stanley, and JPMorgan Chase & Co.
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No. of Shares ReleasedTBD
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