German sandal maker Birkenstock is moving ahead with plans for an initial public offering (IPO) that could value the company at more than $1.6 billion, seeking to tap into investor enthusiasm for consumer brands despite recent market volatility.
Birkenstock, known for its comfortable and durable sandals, has filed for an IPO in Frankfurt with plans to raise up to 400 million euros ($423 million) in gross proceeds. The offering is expected to value the company at between 2.5 billion euros and 3 billion euros, making it one of the largest IPOs in Germany this year.
The IPO comes at a time of uncertainty for the global economy and financial markets, with the war in Ukraine, rising inflation, and the prospect of higher interest rates weighing on investor sentiment. However, Birkenstock is betting that its strong brand recognition and loyal customer base will make it a compelling investment opportunity.
.
