Birkenstock will sell 32.26 million shares, raising between $1.42 and $1.58 billion. In detail, the company itself will place around 10.8 million shares, and L Catterton around 21.5 million. The German group has decided to take the plunge despite rather fluctuating market conditions, as demonstrated by the latest Wall Street deals.

Birkenstock's trademark has always been comfort rather than fashion. On its website, the company claims that all its design elements - the buckles, straps, sole and footbed - have a "functional purpose". But it has also found favor with fashion enthusiasts, gradually acquiring iconic status. A position reinforced in recent weeks, after one of its brands was featured in the blockbuster film "Barbie", in which Margot Robbie is seen wearing a pair of pink Birkenstocks.

Coupe
The mythical sole (Source Birkenstock)

The company, whose origins date back to 1774, is a sixth-generation family business. Most of its products are manufactured in factories located in Rhineland-Palatinate, North Rhine-Westphalia, Hesse and Saxony, Germany.

Shareholders who will remain invested

L Catterton, a partnership between Catterton, LVMH and Financière Agache, will retain around 83% of Birkenstock after the IPO. Financière Agache has expressed an interest in buying up to $325 million of shares at the time of the listing, while "key investors" Durable Capital Partners LP and Norges Bank have announced an interest in buying up to $300 million of shares.