Germany’s Birkenstock Targets $9.2 Billion Valuation in New York IPO

German footwear brand Birkenstock, backed by private equity firm L Catterton, aims for a valuation of up to $9.2 billion in its forthcoming U.S. initial public offering (IPO). The company and its stakeholders plan to sell at least 32 million shares, potentially raising around $1.58 billion at the upper end of the projected price range. Birkenstock, a sixth-generation family-owned business, has seen a surge in popularity, particularly among fashion enthusiasts, and reported a 21% rise in revenue in the nine-month period ending June 30.