Birkenstock, maker of Barbie sandals, takes off on the New York Stock Exchange

by archynewsy
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It’s a big step for Birkenstock: the German sandal giant will go public this Wednesday in NYwith a valuation of 8.6 billion dollars which confirms its success in fashion and luxury, far from the kitsch of its beginnings.

Birkenstock set the unit price of its shares at 46 dollars, according to a statement on Tuesday, in the middle of the initial range of between $44 and $49. In total, they will go public at least 32.26 million shares under the symbol “BIRK“.

The context is favorable for the company, which became part of the world leader in luxury LVMH in 2021: strappy sandals with cork soles appeared on the feet of Barbiein a candy pink version, in the blockbuster about the doll of the same name that aired throughout the summer.

The IPO market, plagued for more than a year and a half by tightening credit conditions, is recovering.

The recent IPOs of the British microprocessor designer Arm and the American shopping delivery platform Instacart They were a success.

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