Footwear brand Birkenstock is following the trend for New York listings as it prepares to go public in a move that could value the firm at over £6billion.
The private equity-owned shoemaker is planning to launch an initial public offering (IPO) in the US next month.
The price is yet to be set but it is expected to give the firm a valuation of £4.8billion to £6.4billion.
Star turn: Birkenstock sandals have enjoyed a surge in popularity with interest further fuelled when they featured in the Barbie movie starring Margot Robbie (pictured)
The once hippy Birkenstocks have enjoyed a surge in popularity and sales. Interest was further fuelled when they featured in the Barbie movie starring Margot Robbie.
Bosses of the German brand are hoping to ‘capitalise on being in the fashion spotlight’, analysts said.
The decision to launch in the US is a blow to the London stock market, which is not expected to host any high-profile launches for the rest of the year.
‘Birkenstock’s step shows that the IPO engine is whirring back to life after an 18-month downturn,’ said Susannah Streeter, head of markets at Hargreaves Lansdown.
Birkenstock is majority owned by private equity firm L Catterton, which is backed by LVMH.
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