German premium footwear maker, Birkenstock Holding’s revenue jumped 21 percent in the nine months that ended June 30, it said in updated paperwork for a U.S. stock market listing on Friday.
The company, backed by private equity firm L Catterton, is one of a handful of high-profile firms gearing up for a stock market debut. Others, including grocery delivery app Instacart and marketing firm Klaviyo, are also expected to list their shares soon.
The company’s amended filing comes just a day after a smooth debut from SoftBank Group-backed Arm Holdings.
Birkenstock recorded revenue of €1.12 billion ($1.20 billion) for the nine months ended June 30, compared with €921.2 million in the same period in the previous fiscal year.
Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) grew 16 percent to €387 million in the same period.
A family-owned business that traces its roots back to 1774, Birkenstock’s trademark typically has been comfort rather than fashion. On its website, the company says all elements of its design — the buckles, the straps, the sole and the footbed — have a “functional purpose”.
But it has also found favour among fashion aficionados, more so in recent weeks after one of its brands was featured in the blockbuster hit Barbie, where Margot Robbie was seen donning a pair of pink Birkenstocks.
Goldman Sachs, J.P. Morgan and Morgan Stanley are among the underwriters for the IPO.
By Niket Nishant; Editor: Krishna Chandra Eluri
Birkenstock Files for US IPO
Birkenstock has filed for an initial public offering with the US Securities and Exchange Commission. The German footwear brand, which is owned by LVMH-backed private equity firm L Catterton, plans to list on the New York Stock Exchange under the symbol BIRK.