Advertisement
UK markets close in 8 hours 29 minutes
  • FTSE 100

    8,121.20
    0.00 (0.00%)
     
  • FTSE 250

    20,194.47
    0.00 (0.00%)
     
  • AIM

    764.37
    -0.81 (-0.11%)
     
  • GBP/EUR

    1.1800
    0.0000 (0.00%)
     
  • GBP/USD

    1.2690
    +0.0005 (+0.04%)
     
  • Bitcoin GBP

    48,021.62
    -1,463.48 (-2.96%)
     
  • CMC Crypto 200

    1,313.48
    -21.44 (-1.61%)
     
  • S&P 500

    5,509.01
    +33.92 (+0.62%)
     
  • DOW

    39,331.85
    +162.33 (+0.41%)
     
  • CRUDE OIL

    83.24
    +0.43 (+0.52%)
     
  • GOLD FUTURES

    2,346.10
    +12.70 (+0.54%)
     
  • NIKKEI 225

    40,580.76
    +506.07 (+1.26%)
     
  • HANG SENG

    17,969.96
    +200.82 (+1.13%)
     
  • DAX

    18,164.06
    -126.60 (-0.69%)
     
  • CAC 40

    7,538.29
    -22.84 (-0.30%)
     

Birkenstock prices L Catterton entity's secondary offering at $54/share

Birkenstock shoe store in London

(Reuters) - German sandal maker Birkenstock said on Wednesday it has priced a $756 million secondary offering by an entity affiliated with L Catterton at $54 a piece.

U.S. private equity firm L Catterton, backed by French billionaire Bernard Arnault and luxury goods giant LVMH, is looking to reduce its stake to 73.2% from 81.1% in the German firm.

Birkenstock is not selling any shares in the offering and will not receive any proceeds from the sale by L Catterton, the footwear brand said in a statement.

In May, Birkenstock raised its annual revenue and core profit forecasts, betting on full-price selling and strong demand for its cork-based sandals and newer closed-toe styles mainly at its own stores.

(Reporting by Urvi Dugar in Bengaluru; Editing by Subhranshu Sahu)