For 250 years the famous shoe company Birkenstock (BIRK) reigned from one generation to the next. The result is the absolute best in quality, comfort, and support. In 2016, Birkenstock celebrated 50 years in the U.S.
Birkenstock prices its IPO at $46 per share with a valuation of about $8.64 billion.
The company had originally anticipated selling approximately 10.75 million common shares through the offering and potentially raising approximately $495 million upon its debut on the New York Stock Exchange, trading under the symbol “BIRK.” Birkenstock has sold 30 million pairs of shoes in 2022, according to a recent Birkenstock IPO filing.
Between fiscal 2014 and 2022, its revenue increased at a compound annual rate of 20%. The company is successful and expanding, with a gross profit margin that will rise from 55% in fiscal 2020 to 60% in 2022.
When combined with the 21.51 million shares that selling stockholders aimed to divest, the total offering has the potential to generate around $1.48 billion.
Often copied, never duplicate the iconic Birkenstock shoe brand has been one of the most successful brands in retail. With comfort and craftsmanship, it has succeeded as a brand that does not need the latest fashion trend to endure.
The company has ventured into “Vegan & Cruelty-Free- Dermatologically Tested – and Sustainable & Recyclable” skin creams for your body and feet.
Earlier this month, Birkenstock announced that Financière Agache, the Arnault family office holding a controlling stake in the company, and the Norwegian sovereign wealth fund, expressed their intention to jointly buy up to $625 million worth of stock.
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