German footwear brand Birkenstock is believed to be mulling a possible initial public offering (IPO), with its key owner L Catterton understood to be meeting bankers to suss out the process.
The shoe company is expected to make the move to go public this coming autumn, a financial source told WWD, while another told the publication that this timeline may be too ambitious.
A spokesperson for L Catterton declined to comment on the situation, the media outlet noted.
The private equity firm initially snapped up control of Birkenstock in 2021 along with Financière Agache, with reports at the time speculating that the deal was worth around four billion euros.
If it was to go public, it would be the first time Birkenstock’s financials would be unveiled, giving the market an understanding of its current status.
It comes as other fashion companies watch Wall Street closely as more and more consider stepping into the world of IPO’s.
Savage X Fenty, Rihanna’s lingerie brand that is also backed by L Catterton, is among those to have been reportedly considering such a move, as has Kim Kardashian’s Skims.
However, while the jump may be enticing, it doesn’t provide the expected results for those that make the leap.
Back in December 2022, luxury fashion group Lanvin, for example, saw its shares fall 25 percent in its first day of trading on the New York Stock Exchange (NYSE), dropping from its initial 10.2 dollars to 7.63 dollars at the closing bell.