LVMH-Backed Firm Considers IPO Of Birkenstock In US Market At Over $6B: Report - LVMH-MOET HNSY L VUTN by

The French fashion giant LVMH Moet Hennessy Louis Vuitton SE (OTC:LVMHF) backed private equity firm is exploring strategic options for Birkenstock, including an initial public offering.

At IPO, Birkenstock is expected to be valued at over $6 billion, Bloomberg reported citing a person familiar with the matter.

Th firm is working with advisers for potential company listing in the U.S. stock market.

As per the report, the IPO may happen this or next year.

Over two years back, the private equity firm and the family investment company of billionaire Bernard Arnault reportedly bought a majority stake in Birkenstock, valuing the company at $4.9 billion.

In April, LVMHF reported a first-quarter FY23 sales growth of 17% year-on-year to €21.04 billion, with organic revenue growth was 17%.

Also Read: LVMH Market Value Exceeds $500B; First European Company To Hit The Milestone

Price Action: LVMHF shares closed lower by 2.79% at $894.01 on Thursday.

LVMHFLVMH-MOET HNSY L VUTN by LVMH-Moet Hennessy Louis Vuitton

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