Birkenstock Shares Open 4% Above $46 IPO Price, Valuing 270-Year-Old Sandal Maker at $9.74 Billion

Birkenstock shares set to open 4% above IPO price of $46 per share, valuing the company at $9.74 billion.

Birkenstock is the fourth major company to launch a U.S. IPO in the last four weeks.

Founded in 1774, Birkenstock sold a majority stake to L Catterton PE group backed by LVMH in 2021.

Birkenstock revenue jumped 21% to €1.12 billion in the first 9 months of 2022.

Birkenstock gained popularity after Margot Robbie wore the sandals in the movie "Barbie" this summer.