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Birkenstock store in Frankfurt am Main: lifestyle and luxury products

Photo: Jan Huebner/Blatterspiel / imago images/Jan Huebner

According to a media report, the sandal manufacturer Birkenstock wants to announce plans for its stock market debut this week. This should be done by filing with the U.S. Securities and Exchange Commission (SEC), reports the "Handelsblatt" on Sunday evening, citing financial circles. The first day of trading on the New York Stock Exchange (NYSE) is scheduled for the week starting on October 9.

In the course of the IPO, ten to 15 percent of the shares are expected to be sold at a total valuation of at least eight billion dollars. Since the company is presented to investors as a manufacturer of lifestyle and luxury products, an even higher valuation of ten to 11.5 billion dollars is conceivable. Birkenstock and the company's owners declined to comment, according to the report.

The Birkenstock founding family had sold the majority of the company to the private equity firm L Catterton in 2021. Since then, around 65 percent has been held by the financial investor, and Bernard Arnault, the founder of the luxury group LVMH, holds about 20 percent through his subsidiary Agache.

In the course of the IPO, the owners could sell shares on a pro rata basis. However, it is also possible that Agache will strengthen its position by selling fewer shares and L Catterton more. Arnault is so satisfied with the Birkenstock investment so far that he does not want to reduce his investment position, but increase it in the medium term.