The IPO Buzz: Birkenstock Files to Go Public in U.S.

Birkenstock let the other sandal drop after the close. The iconic German sandal manufacturer filed its F-1 late this afternoon (Tuesday, Sept. 12, 2023) without disclosing terms for its U.S. IPO other than the proposed symbol “BIRK” and the venue. This will be a New York Stock Exchange listing.

Birkenstock’s IPO filing comes near the end of New York Fashion Week. The IPO news also makes a splash amid the buzz over the pink Birks in the blockbuster “Barbie” movie. The company’s fashion footprint goes back to 1774.

Birkenstock Holding Limited (BIRK proposed) will offer stock and the selling stockholder, L Catterton, will also offer shares. L Catterton is the private equity firm that bought a majority stake in Birkenstock in 2021. L Catterton, known for its investments in some of the world’s biggest luxury fashion brands, was formed in 1989 through its partnership with LVMH and Groupe Arnault.

Goldman Sachs, J.P. Morgan and Morgan Stanley are the global lead joint book-runners. Rounding out the joint book-running team are eight more big banks: BofA Securities, Citigroup, Evercore ISI, Jefferies, UBS Investment Bank, BNP Paribas, Bernstein and HSBC.

Bloomberg reported a month ago that Birkenstock may go public with a valuation of about $8 billion.

Birkenstock reported net income of about 187 million euros (US$201.2 million) on revenue of about 1.2 billion euros (US$1.3 billion) for fiscal 2022, which ended on Sept. 30, 2022.

“We see ourselves as the oldest start-up on earth,” CEO Oliver Reichert wrote in the founder’s letter, included in the prospectus. “We are a brand backed by a family tradition of a quarter of a millennium with the resilience, timeless relevance, and credibility of a multigenerational business. Yet, despite this heritage, BIRKENSTOCK remains empowered by a youthful energy level, with all the freshness and creative versatility of an inspired Silicon Valley start-up. We have retained the original spirit of our forefathers who laid the foundation of a global business that is more relevant than ever before.

“Today, we are crowning this development with an IPO – a logical step that began with the stepping back of the family from the operational business,” Reichert wrote. “This took us to the next level through our partnership with L Catterton, and now marks a new important milestone with our plan to go public, inviting a broader group of investors to join our undertaking. This is the beginning of a new chapter.”

Stay tuned.

(For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on’s website.)

Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board.

To see what time the NASDAQ IPOs are expected to trade, please log in to: then scroll down to IPO Message.

Disclosure: Nobody on the staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The staff does not issue advice, recommendations or opinions.

Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.