The company behind the iconic German sandals may be valued at $8 billion, corresponding to just over SEK 88.7 billion, writes Bloomberg. The proposed conditions for the share sale will be published in a later application.
Birkenstock has almost 250 years behind it and a listing would mean stepping into unknown territory. In recent years, however, the brand has undergone a substantial change process and has gone from a more upright profile to a trendy one. Collaborations with luxury brands such as Dior, Manolo Blahnik and Valentino have occurred.
The stock market listing comes more than two years after the venture capital company L Catterton and billionaire Bernard Arnault’s luxury goods empire LVMH bought a majority stake in Birkenstock and valued it at around 4 billion euros, equivalent to roughly 47.7 billion kroner.
The major American banks Goldman Sachs, JP Morgan and Morgan Stanley will represent the shoe manufacturer in connection with the listing, writes Bloomberg.
2023-09-12 23:05:00
#Birkenstock #enters #stock #market
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