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Birkenstock is going public


German shoe manufacturer Birkenstock, known for producing foot-friendly sandals, has filed for an initial public offering (IPO) in the United States. This marks the second major European company to choose a U.S. listing over Europe just in September.

In the first six months of this year, Birkenstock saw a 19 percent increase in revenue to €644.2 million. However, its profit declined by 45.3 percent to €40.2 million. Details regarding the IPO have not been disclosed at this time.

The sandal giant is majority-owned by L Catterton, a venture capital firm backed by LVMH, but it is also co-owned by the Birkenstock family. The company has a long history dating back to 1774.

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