German premium footwear maker, Birkenstock Holding, has reported a 21% increase in revenue for the nine months ending June 30th. The company, known for its comfortable and functional design, is preparing for a stock market listing alongside other high-profile firms such as Instacart and Klaviyo.
As of June 30th, Birkenstock’s revenue stood at €1.12 billion (US$1.20 billion), up from €921.2 million in the same period the previous year. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) also grew by 16% to reach €387 million.
Birkenstock, a family-owned business with a rich history dating back to 1774, has traditionally focused on comfort rather than fashion. However, the brand has gained popularity among fashion enthusiasts, particularly after being featured in the popular movie “Barbie,” where Margot Robbie sported a pair of pink Birkenstocks.
The IPO for Birkenstock is backed by private equity firm L Catterton, and underwriters for the listing include Goldman Sachs, J.P. Morgan, and Morgan Stanley.
Overall, the revenue increase reflects the continued success of Birkenstock in the premium footwear market. With its dedication to functional design and growing appeal in the fashion industry, the company is well-positioned for further growth and expansion.
Sources:
– Birkenstock Holding
– Barbie Movie Featuring Birkenstock