Posted 10/5/2023, 5:07:43 AM
Birkenstock Seeks Growth Despite Inflation, Aims for $1.5B IPO to Fund Online Sales
- Birkenstock seeking to expand sales amid cost of living crisis and uncertain IPO market
- Company known for comfortable sandals, has rebranded as fashionable and expanded products
- Backed by LVMH-affiliated private equity firm, listing on NYSE to raise around $1.5 billion
- Must boost online sales and own stores to attract new customers as wholesale partners cut back
- Footwear sales pressured by inflation, but Birkenstock increased website traffic contrasts with rivals
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