{"id":67859,"date":"2023-10-02T12:27:27","date_gmt":"2023-10-02T16:27:27","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/birkenstock-seeks-up-to-9-2-billion-valuation-in-ipo-and-taps-billionaire-arnaults-son-for-board\/"},"modified":"2023-10-02T12:27:31","modified_gmt":"2023-10-02T16:27:31","slug":"birkenstock-seeks-up-to-9-2-billion-valuation-in-ipo-and-taps-billionaire-arnaults-son-for-board","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=67859","title":{"rendered":"Birkenstock Seeks Up To $9.2 Billion Valuation In IPO\u2014And Taps Billionaire Arnault\u2019s Son For Board"},"content":{"rendered":"<div>\n<h2 class=\"topline-heading\">Topline<\/h2>\n<p>German sandal giant Birkenstock said Monday it plans to price its upcoming New York initial public offering at $44 to $49 per share, also sharing that a member of one of the world\u2019s wealthiest families will join its board upon its debut.<\/p>\n<h2>Key Facts<\/h2>\n<div class=\"key-facts\">\n<div class=\"key-facts-element\">\n<p>Birkenstock will raise up to $1.58 billion at a valuation of up to $9.2 billion at the target share price range, making it among the five largest IPOs of the last two years.<\/p>\n<\/p><\/div>\n<div class=\"key-facts-element\">\n<p>The Monday filing with the Securities and Exchange Commission revealed the nomination of Alexandre Arnault, the 31-year-old son of billionaire LVMH chairman Bernard Arnault, to Birkenstock\u2019s board of directors.<\/p>\n<\/p><\/div>\n<div class=\"key-facts-element\">\n<p>Birkenstock disclosed Monday Financi\u00e8re Agache, the Arnault family office which already bought a controlling stake in the shoemaker in 2021, expressed interest in buying up to $325 million worth of Birkenstock shares when it goes public, while a group including the Norwegian sovereign wealth fund indicated it may buy a further $300 million worth of its stock.<\/p>\n<p>  <fbs-ad position=\"inread\" progressive=\"\" ad-id=\"article-0-inread\" aria-hidden=\"true\" role=\"presentation\"><\/fbs-ad>\n <\/div>\n<\/div>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">What To Watch For<\/h2>\n<p>Birkenstock intends to begin trading on the New York Stock Exchange next Wednesday, according to Bloomberg.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Tangent<\/h2>\n<p>Birkenstock will become the fourth major company to go public in the U.S. since mid-September, joining British chip designer Arm, grocery delivery service Instacart and marketing automation firm Klaviyo. Results have been mixed for the other three new market entrants in their first weeks of trading: Arm shares were up 5% from their IPO price at Friday\u2019s close, Klaviyo up 15% from its debut and Instacart down 1%.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Key Background<\/h2>\n<p>The Arnaults\u2019 purchase of Birkenstock valued the sandal hawker at $4.87 billion, translating to a nearly 100% partially realized gain in 31 months. Alex and Christian Birkenstock, heirs to the family business, were worth about $1.7 billion apiece after the sale. The Arnaults are Europe\u2019s richest family; patriarch Bernard Arnault is worth $187 billion, according to <em>Forbes<\/em>\u2019 calculations, making the Louis Vuitton and Tiffany boss the second-richest person in the world. Alexandre Arnault is Bernard\u2019s third-oldest child and second-oldest son and has been Tiffany\u2019s executive vice president of communications and product since 2021.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\"><\/h2>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.forbes.com\/sites\/dereksaul\/2023\/10\/02\/birkenstock-seeks-up-to-92-billion-valuation-in-ipo-and-taps-billionaire-arnaults-son-for-board\/\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Topline German sandal giant Birkenstock said Monday it plans to price its upcoming New York initial public offering at $44 to $49 per share, also sharing that a member of one of the world\u2019s wealthiest families will join its board upon its debut. Key Facts Birkenstock will raise up to $1.58 billion at a valuation [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":67860,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-67859","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Birkenstock Seeks Up To $9.2 Billion Valuation In IPO\u2014And Taps Billionaire Arnault\u2019s Son For Board | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Topline German sandal giant Birkenstock said Monday it plans to price its upcoming New York initial public offering at $44 to $49 per share, also sharing\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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