Axios Pro Exclusive Content

Birkenstock weighs IPO among strategic options

Kimberly Chin
A row of different colored Birkenstock sandals in a display case

Photo: Jeffrey Greenberg/Universal Images Group via Getty Images

Private equity firm L Catterton is weighing strategic options, including an initial public offering, for its Birkenstock brand, Bloomberg reports, citing sources familiar.

Why it matters The fact that an IPO is on the table is a sign investors may be warming up to the public markets again, after recent strong debuts by Mediterranean fast food chain Cava and Korean barbecue concept Gen Restaurant Group.

Details: German footwear company Birkenstock could be valued at over $6 billion in an IPO, per Bloomberg.

  • Goldman Sachs and JPMorgan are serving as advisers on a potential U.S. listing, according to Bloomberg.
  • The IPO’s timing could come this year or next year.

Context: L Catterton, which is backed by LVMH, and Financière Agache, the family investment company of LVMH’s Bernard Arnault, acquired a majority stake in Birkenstock two years ago at a valuation of about $4.8 billion.

JPMorgan and Goldman Sachs declined to comment. Representatives at L Catterton and Birkenstock couldn’t immediately be reached for comment.

Go deeper