German shoemaker Birkenstock could be valued at up to $10 billion when it lists its shares on the stock market for the first time.
The iconic footwear brand plans to sell shares for between $44 and $49 apiece when it debuts on the New York Stock Exchange, aiming to raise as much as $1.6 billion, it said in a filing Monday. It did not set a date for its initial public offering.
In 2021, L Catterton, a private equity firm backed by French luxury giant LVMH — which owns brands such as Tiffany & Co. and Dior — bought a majority stake in Birkenstock. Brothers Christian and Alex Birkenstock retained a minority stake. The shoemaker's upcoming listing is a coup for the US market, and another loss for stock exchanges in Europe. UK-based chip designer Arm was lured to U.S. shores last month, listing on the Nasdaq, and currently has a market capitalization of $54 billion.
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