Birkenstock, the German premium footwear brand backed by private-equity firm L Catterton, said on Monday it is seeking a valuation of up to $9.2 billion in its highly anticipated initial public offering (IPO) in New York.
About 32.26 million shares, priced between $44 and $49 apiece, would be sold in the IPO by the company and its selling stockholders to raise $1.58 billion, according to a filing with the U.S. Securities and Exchange Commission.
Birkenstock's trademark typically has been comfort rather than fashion. On its website, the company says all elements of its design - the buckles, the straps, the sole and the footbed - have a "functional purpose".
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