Birkenstock IPO of 'Jobs' Sandals'... Market Cap Eyes Over 11 Trillion Won

Scheduled for NYSE Listing on the 11th
Target IPO Price $46 per Share

German sandal manufacturer 'Birkenstock' is scheduled to go public (IPO) on the New York Stock Exchange on the 11th (local time).

According to U.S. financial media outlets such as The Wall Street Journal (WSJ) and CNBC the day before, Birkenstock's target offering price is $46 per share (approximately 61,780 KRW). Applying this, the market capitalization is estimated to reach $8.64 billion (approximately 11.6035 trillion KRW).

Previously, Birkenstock was jointly acquired by 'L Catterton,' a private equity fund formed by Louis Vuitton Mo?t Hennessy (LVMH) and a U.S. investment firm, along with the family investment company owned by Bernard Arnault, chairman of LVMH, in 2021. The company is going public two years later.

Birkenstock Sandals
[Image Source=Birkenstock]

Birkenstock is a historic company with a legacy spanning several centuries. It started as the personal workshop of shoemaker Johann Adam Birkenstock, born in 1774 in Langenberg, Germany.

Conrad Birkenstock, the founder's great-grandson, established two shoe factories in Frankfurt, Germany, in 1896, transforming Birkenstock into a mass-production company. In particular, he gained popularity with uniquely designed sole shoes developed after 15 years of research.

In the 1960s, Birkenstock expanded into the United States and began to attract significant foreign attention. During the 1990s and 2000s, overseas celebrities frequently wore Birkenstock sandals, cementing its image as a luxury brand.

Steve Jobs, the founder of Apple, was also known to be a fan of Birkenstock sandals during his lifetime. The sandals he purchased were mainly worn while he lived in his home in California, USA, during the 1970s and 1980s.

Birkenstock sandals left as his belongings were auctioned at Julien's Auctions in New York, USA, last November and sold for $218,750 (approximately 29.378 million KRW).

This content was produced with the assistance of AI translation services.