Sandals maker Birkenstock is preparing for a £7.6bn New York stock market flotation after the Barbie boost
Birkenstock is seeking a valuation of up to £7.6 billion for its highly anticipated New York IPO.
The IPO is expected to be priced between $44 and $49 per share, the shoe maker said.
The Company has registered to trade on the New York Stock Exchange under the symbol “BIRK.”
IPO: Birkenstocks are growing in popularity and demand increased after they were featured in the Barbie movie starring Margot Robbie (pictured)
Underwriters for the listing include Goldman Sachs, JPMorgan and Morgan Stanley. Birkenstocks have enjoyed growing popularity and increasing sales in recent years.
British revenues rose by 48.8 percent last year. Demand has continued to rise for the shoes in the Barbie film with Margot Robbie.
Across the pond, Birkenstock’s stock market ambitions follow those of British chip maker Arm and delivery app Instacart.
Fashion companies such as Kim Kardashian’s Skims and Chinese e-commerce giant Shein are also aiming for stock market debuts. Birkenstock – whose history dates back to 1774 – is majority owned by private equity firm L Catterton, which is backed by Dior owner LVMH.
Susannah Streeter of Hargreaves Lansdown said: “Birkenstock’s move is another sign that the IPO engine is coming back to life after an 18-month downturn.”